Taconic to acquire retail properties through Prusik Group joint venture

Taconic Investment Partners will acquire urban and suburban retail properties in the New York-New Jersey-Conn. region through a joint venture with the Manhattan-based Prusik Group, according to Charles Bendit, Taconic co-founding partner. Acquisition efforts will be concentrated on the greater New York region. The co-venture will consider both urban and suburban developments within a 75-mile radius of midtown Manhattan, including all five boroughs of the city and nearby Long Island, Conn., New Jersey and upstate New York communities. Targeted property valuations will be in the $50-$200-million range. The Prusik Group LLC was founded earlier this year by S. Andrew Katz and Rohan Mehra, whose combined experience includes the acquisition or development of 2.5 million s/f of retail, office and residential property. Katz is former partner and director of development for Blumenfeld Development Group. Mehra is former vice president for retail development at Forest City Ratner Companies.