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NORCROSS, GA-Shooting to acquire up to $400 million in institutional quality industrial, office and multifamily properties, Boston-based High Street Equity Advisors has purchased two suburban Atlanta properties for a total $71.7 million. The light distribution/flex business parks total 960,791 sf. Chicago-based First Industrial Realty Trust Inc. was the seller.

The newest acquisitions for the firm's High Street Real Estate Fund II are the 654,470-sf, 91%-leased Northwoods Business Park in Norcross purchased for $46.7 million or $71.36 per sf, and the 306,321-sf, 94%-leased Franklin Forest Business Park in Marietta bought for $25 million or $81.61 per sf.

In separate previous transactions elsewhere, three-year-old High Street acquired four properties totaling more than two million sf for $87 million. The newest acquisitions bring High Street's portfolio for the fund to an estimated three million sf valued at about $159 million. High Street buys individual assets ranging from $5 million to $34 million, along with portfolio transactions including both core and value-add assets, according to the company's prepared statement.