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Princeton Goes National with Portfolio Deal

NEW YORK CITY—A pool of mainly office assets net leased to the General Services Administration marks Princeton Holdings' first nationwide portfolio; the firm's David G. King Jr. gives GlobeSt.com the particulars.

By Paul Bubny | Updated on December 16, 2014

NEW YORK CITY—With the first phase of a 14-asset portfolio having closed Tuesday, locally based Princeton Holdings has set its sights firmly on the national scene, although it has invested across US markets before. “We’re probably best known as an owner, investor and developer in New York City,” David G. King Jr., managing director with Princeton Holdings, tells GlobeSt.com. “We’ve got about five million square feet of either investments or development projects in New York City. With this, we’re going national.”

“This” is a three-million-square-foot portfolio of office properties net leased to the General Services Administration that Princeton is buying in partnership with the Bluestone Group. Industry data, as well as previous reporting by GlobeSt.com, indicate the sellers are another partnership, a joint venture of Urban America Advisors and Fisher Brothers.

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