Northstar Makes Major $224M Portfolio Buy
ByDon’t miss priceless networking at these national events: at RealShare APARTMENTS in Los Angeles on Oct 21-22, RealShare INDUSTRIAL in Atlanta on Nov 3-4, RealShare NEW LEASE WEST in Los Angeles on Nov 11-12 and RealShare HEALTHCARE REAL ESTATE in Scottsdale, AZ on Dec 2-3.
“It is very rare in this economic environment to acquire an off-market deal of this magnitude, diversity, and low occupancy rate, in order to drive very attractive opportunistic level returns,” says Watson.
DENVER—Locally based Northstar Commercial Partners has acquired a 24-property national US portfolio for $224 million from Mr. Moshe Silagi, president of Silagi Development and Management. The diversified value-add portfolio spans coast to coast, with various locations in 12 states.
Thirteen of the properties are industrial warehouse & manufacturing facilities, eight are office buildings, and three are retail assets. The value-add opportunity attracted investors not only nationally, but also on a global scale—including ALTO Real Estate Funds, a US firm that invests funds raised in Israel…
