United States
Bainbridge Cos. Targets Acquisition of East Coast Distressed Property
Jan 23, 2009

The Bainbridge Cos. is seeking acquisitions for its newly formed distressed properties group.

The group is focusing on debt-laden and foreclosed office, mixed-use and multifamily properties from owners and lenders. The group plans to use its own capital and doesn't have a set amount earmarked for the strategy. "We are internally capable of executing on financing these deals and we do see a fair amount of seller financing that's going to be available," Rick Giles, Managing Director added. It is working on $350 million to $400 million of deals.

The group sees particular opportunity in the multifamily sector, where it is seeking properties of 100 to 400 units in East Coast cities. 

Source: Real Estate Finance & Investment