Search
 

Keystone Commits $500M to Value-Add Assets

CONSHOHOCKEN, PA-Keystone Property Group closes its second fund at $111.4 million to acquire and reposition office and industrial assets.

By Marita Thomas | Updated on September 24, 2006

(To read more on the industrial market, click here.)

CONSHOHOCKEN, PA-Keystone Property Group has closed its second fund, Keystone Property Fund LP II, at $111.4 million, three times the amount it raised in its opening fund. As before, the company is looking for office and industrial properties to renovate and reposition.

“Fund II allows us to leverage approximately $500 million in acquisitions,” says Bill Glazer, Keystone Property Group president. The focus will be the same as Fund I’s, which Glazer describes as properties that are “functionally obsolete and capital-starved.” The geographic reach, however, will include the Mid-Atlantic, “but also expand to one or two other markets, such as Chicago, South Florida and the Washington, DC-Baltimore area.”

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.