South Florida-based institutional real estate investment manager American Ventures Partners has launched the American Ventures Strategic Property Fund to invest in distressed U.S. commercial real estate, with a target capital raise of $1 billion. The investment fund provides a tax-advantaged structure to non-U.S. investors.
“Uncertain times offer extraordinary opportunity,” said Philip Blumberg, chairman at American Ventures. “That holds true like never before, with Class A office properties available at steep discounts. Geographically, our best opportunities will be found in states with comparatively low costs of living and taxes, such as Texas and Florida, markets where we have strong experience.”
The launch of the most recent fund marks the fifth distressed commercial real estate fund formed by Blumberg over three decades, forming funds shortly before or during severe market troughs. The new fund will focus on properties valued at more than $50 million and priced below replacement cost.
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