News
IC UC AT ICSC PARTY
November 9, 2010
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| Last night, we ran into Preferred Real Estate Fund's Andrew Knox and Stan Sonenshine at the ICSC Political Action Committee party at Cinco Mexican Cantina on Akers Mill. While PREF owns a majority of retail in its portfolio, Stan and Andrew tell us they're underwriting more office and industrial than retail, and that the underlying real estate more often trumps whatever building is in place. Andrew says PREF is still active in seeking investment deals in all commercial categories between $2M and $10M. The firm most recently purchased Chastain Square Office Park, a 20K SF small office complex in Buckhead. ?We are looking for more deals like that—localized niche type real estate closer in to Atlanta, where the underlying real estate becomes a big component of the value,? Andrew says. Look for extended ICSC coverage in Bisnow tomorrow. |
