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Synapse Development, Mideast Firm Partner

NEW YORK CITY—The joint venture will focus on acquiring multifamily properties here and in San Francisco, but also may pick up assets in other urban markets.

By Rayna Katz | Updated on December 03, 2015

NEW YORK CITY—Synapse Development Group, a real estate investment and development firm headquartered here, has struck up a platform partnership with AQARAT, a Kuwait-based leading real estate companies, and the first real estate company to be incorporated into the Kuwait Stock Exchange. The joint venture will make general partner investments in urban real estate across the country. It will focus on expanding its portfolio in New York and San Francisco, and will evaluate other markets on a deal-by-deal basis.

“We have invested in several projects with the AQARAT team and are looking forward to building out our platform with the benefit of working with such an accomplished global real estate firm,” says Justin Palmer, CEO of Synapse.

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