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Follow on Google News | BH Properties Reports High Acquisition Activity in First Half of 2013BH reports more than $45 million in acquisitions in 2013 to date.
“We are very pleased in how our strategy this year has provided us with great opportunities and key acquisitions and we are anticipating a strong finish for the next two quarters,” said Executive Vice President and general counsel of BH Properties Steve Jaffe. “We are well ahead of where we were last year at this point and should exceed our acquisition goals for 2013. We continue to focus on the Southwest and Western states, looking for opportunities in all four of our product types – multifamily, industrial, office and retail. Our purchases up to this point are a great reflection of our overall portfolio – multifamily, industrial and office – some were purchased completely vacant while others were stabilized in improving markets. That trend should continue for the balance of the year.” Some of the highlights for the first half of 2013 include: • Vista Ventana: A 275-unit multifamily property acquisition located in Phoenix, Ariz. for $10.2 million. • 2085 Rustin: A 147,194-square- • Lake View Center: A 106,345-square- • Terrace Park Apartments: A 214-unit multifamily property acquisition located in Phoenix, Ariz. for $6.2 million. This acquisition gave BH Properties its 8th multifamily property in Arizona in the past 24 months. • Avalon Hills: Multifamily acquisition of 205 units of the Avalon Hills Condominiums located in Phoenix, Ariz. for $5.6 million. • Tres Puentes Distribution Center: A 313,120-square- • 2500 E. Chambers: A 99,969-square- End
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