Search
 

GlobeSt.com UPDATE: JV Makes First Purchase

NEW YORK CITY-The joint venture of Colliers and AEW makes its first purchase. The partners plan to acquire assets of more than $300 million.

By Barbara Jarvie | Updated on December 03, 2005

NEW YORK CITY-A newly formed joint venture of Colliers ABR and AEW Capital Management has picked up its first asset. The partnership has acquired the 156,000-sf 229 West. 28th St. For previous coverage, click here .

AEW acquired the property on behalf of AEW Partners V, LP, a real estate opportunity fund managed by AEW. “This purchase exemplifies our strategy of sourcing off-market deals through our extensive network of contacts,” said Anthony McElroy, managing director/acquisitions at CABR. “The existing rents in the building are below market rates.” No purchas price was revealed.

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.