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UDC Global Unleashing $1B Development Fund

FORT WORTH-Netherlands-based United Investment and SNS Property Finance put UDC in the driver's seat to buy and build net-leased retail properties in Sunbelt states.

By Connie Gore | Updated on April 16, 2008

[IMGCAP(1)]FORT WORTH-With foreign capital mining US opportunities, the local team of Netherlands-based United Investment Co. has been charged with deploying $1 billion for its parent and a joint venture partner, SNS Property Finance International. The spotlight is pointed at acquisition and development of net-leased retail properties in Sunbelt states from California to the Carolinas.

Biff McGuire, CEO of UDC Global, tells GlobeSt.com that there is a nine-year window to drain the fund, but more likely than not it will be spent within four years and possibly expanded. “We can easily deploy it in four years if we find the right quality of development,” says McGuire. His Fort Worth-based company, N3 Real Estate, was bought last year by United Investment and rolled into UDC Global, which is the US holding company.

N3 will be the fund’s exclusive developer for a strategy that includes taking on development partners in joint venture marriages. As he digs into discussions with developers in California and Florida, McGuire says there is $30 million to $50 million of deals in the pipeline. “With a lot of developers losing equity partners and equity requirements so high, we’re spending a lot of time talking to them,” he says.

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