LOS ANGELES—DealPoint Merrill has purchased a three-property commercial portfolio totaling 223,614 square feet. The investor plans to renovate each of the properties, which are located in Illinois, Texas and New York, extensively into class-A real estate. The name of the seller and the purchase price for each of the properties was not disclosed.

“Each of the portfolio assets exceeded our internal criteria for redevelopment, which usually exceeds a year or more when adding in the entitlement process,” David Frank, CEO at DealPoint Merrill, tells GlobeSt.com. “The assets will be redeveloped into Class A commercial properties.” Frank handled the due diligence in all of the transactions along with Sterling McGregor, DealPoint’s chief investment officer.

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