Search
 

Creekstone Ratchets Up $150M Buying Pool

HOUSTON-Creekstone Partners has assets of various types under contract in Dallas, Atlanta, St. Louis and South Florida. Before the year ends, the plan is to spend $100 million to $150 million and then push the ante to $350 million to $550 million in 2005.

By Jennifer D. Duell | Updated on October 12, 2004

HOUSTON-Creekstone Partners is planning to diversify its existing portfolio of multifamily assets by investing in commercial assets as well. The local company already has several properties under contract including a class A retail center in Dallas; grocery-anchored center in Atlanta; medical office building in St. Louis; and multi-tenant office building in South Florida.

Creekstone Partners will acquire $100 million to $150 million of retail, single-tenant office and multi-tenant office in primary and secondary markets before the year ends, according to Marc Goldstein, Creekstone Partners’ principal. Next year, the company plans to buy $350 million to $500 million of commercial assets.

Creekstone Partners, a division of Houston-based Creekstone Cos., was launched in January to acquire and manage multifamily assets. Since then, the company has acquired more than $250 million of multifamily assets across the nation and has another $500 million in the pipeline.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.