LOS ANGELES--(BUSINESS WIRE)--
BH Properties, LLC, demonstrating its expertise in repositioning real estate through resolving difficult transactions and overcoming time-sensitive closing factors, is reporting a banner year with $100 million in transaction volume and $82 million in acquisitions, a 57 percent increase over the previous year’s results.
“BH Properties had a successful year in the purchase and sale of its properties across the nation, including all of our major disciplines of multifamily, retail, office and industrial,” said Steve Jaffe, executive vice president and general counsel of the company. “We are particularly excited about our Southwest ventures and what that will mean to our investment strategy in 2014.”
In addition to remaining focused on its “value-added” core markets like Arizona and California, the firm also was active in the Denver and Texas markets, closing two purchases, with additional purchases expected in 2014.
Some of 2013’s highlights include:
- Gilbert Town Square: The $13.4 million purchase in December of the 159,000-square-foot Class A retail shopping center within the affluent Phoenix submarket of Gilbert, Ariz. Anchored by Regal Theaters, the center is expected to attract national tenants such as Chipotle, Sport Clips and Pei Wei.
- Richmond Office Property: The $7 million sale, which was the first sale of the company’s assets in Virginia as a part of a more westward focus, involved an 181,000-square-foot office building sold to Shamin Hotels.
- Lake View Center: The 106,345-square-foot Class A office property, located in Ontario, Calif., was acquired for $13.8 million.
- Terrace Park Apartments: A 214-unit multifamily property, located in Phoenix, was acquired for $6.2 million.
- Madera Court Apartments: The $9.6 million purchase, part of a portfolio sale, involved 286 units in Phoenix.
About BH Properties, LLC:
Founded in 1997, BH Properties is a Los Angeles-based commercial real estate investment company that focuses primarily on troubled assets in the industrial, multi-family, office and retail markets. With regional offices in Dallas and Salt Lake City, BH Properties has developed its own distinctive acquisition strategies in 18 states and become one of the repositioning experts in its core markets including California, Arizona, Nevada, Utah, Colorado, and Texas. For more information, please call (310) 820-8888 or visit www.bhproperties.com.
- Mergers, Acquisitions & Takeovers
- Real Estate
Erik Hamilton, 310-373-0103