The Praedium Group Completes Transactions Totaling $2.5 Billion in First Eight Months of 2015
October 9, 2015
New York, NY – October 9, 2015
With $2.5 billion in new acquisitions, dispositions, and several residential developments, 2015 has been an active year for The Praedium Group, a New York City-based national real estate investment firm. On the acquisition front, Praedium, on behalf of affiliates and separate accounts, purchased over $300 million in assets including several apartment projects located in high-growth submarkets of Massachusetts, North Carolina, South Carolina, Oregon and California. The firm also completed two joint-venture condominium developments in New York City and a joint-venture apartment development in suburban Minneapolis.
In addition to identifying and selectively acquiring strong assets in solid markets across the country and completing a number of new residential developments, Praedium also liquidated nearly $2 billion of assets to date in 2015. These transactions included 40 apartment properties, or approximately 12,000 units, as well as over 600,000 SF of office and retail space.
“On the disposition side, we took advantage of highly liquid capital markets, while at the same time, we were able to selectively acquire high-quality assets in markets that continue to experience substantial growth,” said Russ Appel, president of The Praedium Group. “As a result, we have strategically repositioned our portfolio towards first-class assets in desirable, high-growth submarkets across the country. Our extensive relationships in the industry have brought us many of these deals, and our ability to move quickly gave us a competitive advantage with sellers.”
ABOUT THE PRAEDIUM GROUP
The Praedium Group is a privately-held real estate investment firm focusing on under-performing and under-valued assets throughout the United States. The Praedium Group was formed in 1991 and since inception has completed over 350 transactions representing approximately $10 billion of capital, including 73,000 multifamily units and nearly 44 million square feet of commercial space. Over the past 25 years, The Praedium Group has sponsored a series of eight private equity funds, as well as several separate investment vehicles. The commingled funds and separate accounts sponsored by The Praedium Group have attracted investors that include public and corporate pension funds, financial institutions, insurance companies, foundations and endowments. For more information, please visit www.praediumgroup.com.