With their sights set on distressed properties, Houston-based Principle Equity and Partnered Property Acquisitions Group (The PPA Group) of Austin have set a plan in motion to acquire $600 million to $800 million of multifamily properties from institutional lenders.
Monthly Archives: February, 2009
Realty News Report – JV Working $600 Million-Plus Buying Plan
GlobeSt.com – JV Going Full Bore to Acquire Troubled Multifamily
Local multifamily investor Partnered Property Acquisitions Group (The PPA Group) has partnered with Principle Equity Properties in Houston to form a new partnership, United Equity Ventures. The joint venture is targeting lenders with distressed multifamily assets on their books that are willing to sell those assets at a discount.
Real Estate Opportunities Abound in Current Economic Environment
Houston-based Principle Equity (PE) and Austin-based Partnered Property Acquisitions Group (PPA Group) have formed a joint venture to take advantage of the current dislocation in the real estate market caused by over-engineered capital structures. The emphasis will be on fundamentally sound multifamily and commercial real estate.