New Firm To Acquire Distressed Retail Properties

Posted by Orb Staff on July 23, 2009 No Comments
Categories : Commercial Mortgage

l commercial real estate industry veterans have announced the formation of LBG Realty Advisors LLC, a privately held, vertically integrated real estate company that plans to buy distressed debt and retail properties, as well as make joint-venture equity investments in the western U.S. region. LBG's principals include Leslie Lundin, formerly with Inland Mortgage Capital Corp., and Allied Retail Partners LLC principals Doug Beiswenger and David Goldman. The company is in the process of raising $250 million in equity for its new real estate opportunity fund, which is scheduled to close late this year for 2010-2013 investing. Of the future market prospects, Lundin says that "in 2010 to 2013, there will be a historic opportunity to own class A and B cashflowing properties at significant discounts to replacement cost with relatively high equity yields." SOURCE: LBG Realty A

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