(For more retail coverage, click GlobeSt.com/RETAIL.)
(Natalie Keith is a contributing writer to GlobeSt.com.)
FARMINGTON HILLS, MI-Two developers have established a $250-million private equity fund and are planning to acquire $1 billion in retail properties during the next three to five years.
Joint venture partner Daniel Stern tells GlobeSt.com that Farmington Hills-based Grand Sakwa Properties Inc. and West Bloomfield-based Lormax Stern Development Co. have been partners in individual retail properties for more than 10 years. "We decided to pool our resources and strengths for this particular fund," he says.
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