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Taconic Capital Advisors, Friedman Real Estate Acquire $46Mm Industrial Portfolio

Taconic Capital Advisors, Friedman Real Estate Acquire $46Mm Industrial Portfolio

08/03/22, 3:20 PM
Industry
finance
real estate
financial services
Friedman Real Estate, one of the nation’s leading providers of commercial real estate services, in a joint venture with Taconic Capital Advisors, a global institutional investment firm, has acquired a 1.23 million square foot industrial portfolio for $46 million. The four-property portfolio, located in Waterford, Michigan and Liverpool, New York, was purchased from Rite Aid Corporation as a structured sale-leaseback.

Company Info

Company
Taconic Capital Advisors
Company info
Taconic Capital Advisors is a global institutional investment firm that pursues an event-driven, multi-strategy investment approach designed to generate strong, risk-adjusted returns over multiple market cycles. Taconic was founded in 1999 by former Goldman Sachs partners Frank Brosens and Ken Brody. The company has roughly $8 billion of total assets under management with offices in New York, London, and Hong Kong, and more than 100 employees worldwide. Taconic’s full-service commercial real estate platform invests in all asset classes and across the capital structure in both public and private markets. The strategy’s broad mandate offers flexibility to capitalize on shifting market opportunities, creating uncorrelated risk-adjusted return profiles for investors. Rooted in distressed and opportunistic investing, the team applies high-touch asset management capabilities to drive strong asset-level performance and capital market executions. Well-established relationships drive Taconic’s unique and diverse transaction sourcing channels which include local operating partners, investor partners and a broad network of lenders, CMBS special servicers, trading desks and brokerage houses. Taconic’s series of closed-ended real estate funds are fully discretionary and have received over $1 billion in capital commitments. Investments to date across all Taconic funds total over $3 billion of gross asset value across roughly 165 distinct transactions.