Adler Group formed its first discretionary $100 million fund to have capital available for the purchase of income producing commercial properties. \u00a0The fund is named Helios AR Real Estate Fund I, and is being managed by Adler Helios MMI L.L.C., an affiliate of the Adler Group, with Assos Capital USA L.L.C. acting as co-manager. \u00a0The Fund has already made two acquisitions, including Breckenridge Park in Tampa, Fla., which closed on October 15. The Helios AR Real Estate Fund I will invest in multi-tenant office, flex, industrial and retail properties and other real estate related investments in the Southeast and Mid-Atlantic regions.\u00a0 The Fund closed on its first acquisition on August 22, 2008, consisting of a 252,000-square-foot portfolio in Naples. \u00a0\u00a0The Tampa acquisition is the second major transaction for the Fund to close before the end of 2008. Breckenridge Park is a 15-building, 332,582-square-foot Class A mixed-use complex situated at the interchange of I-4 and U.S. 301 in East Tampa. \u00a0\u201cFor decades, investors have partnered with Adler Group because of our depth of industry knowledge and trusted us to deploy and manage our joint capital,\u201d Michael\u00a0 Adler, chairman and CEO of Adler Group said in a release.\u00a0 \u201cWith the current market conditions it is important to have discretionary funds available in order to acquire high-quality assets at reasonable pricing.\u201d\u00a0The Fund\u2019s anchor investor is an affiliate of a high net worth European family involved in shipping, banking, finance, real estate, energy, media and entertainment. In addition to an equity commitment, this investor brings substantial business and asset management expertise to the Fund.\u00a0Michael M. Adler noted that Adler Group and its European partner have successfully partnered on another real estate investment project in the past, a property in Tampa that will be transferred into the new fund. \u00a0Adler Group\u2019s co-manager for the Fund is Assos Capital USA L.L.C., an affiliate of Assos Capital Limited. In addition to its co-management duties, the Assos Capital team manages a portfolio of commercial real estate assets in excess of $325 million, comprising office and retail properties.\u00a0Adler Group expects to place $100 million of equity over the next 18 to 24 months. Because of the intention to be in the fund management business for the long term, Adler Group and Assos will begin formation of their second fund in the near future.\u00a0 \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Adler Group formed its first discretionary $100 million fund to have capital available for the purchase of income producing commercial properties. \u00a0The fund is named Helios AR Real Estate Fund I, and is being managed by Adler Helios MMI L.L.C., an affiliate of the Adler Group, with Assos Capital USA L.L.C. acting as co-manager. \u00a0The…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1003878718","post","type-post","status-publish","format-standard","hentry","category-regions"],"acf":[],"yoast_head":"\n