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Posted: October 27, 2015
The Praedium Group completes transactions totaling $2.5 billion in first eight months of 2015
New York, NY 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 s/f 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."
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