BH Properties Completes $120M in Acquisitions

LOS ANGELES—BH Properties racked in $120 million in acquisitions in 2Q15, marking a record quarter for the value-add investment company. During the quarter, it added 2.97 million square feet to its nationwide portfolio. The purchases were in nine states, Arizona, California, Colorado, Georgia, Iowa, Maine, Tennessee, Texas and Utah. The firm’s success shows that, while we have clearly hit peak market conditions, there are still significant value-add opportunities out there. To gain perspective on the evolving value-add market, learn how the company is staying competitive and how it sees the remainder of the year unfolding, we sat down for an exclusive interview with BH Properties president Steve Gozini. Here, he tells us about the value-add market and how the firm’s investment strategy is designed to keep up with competition.

GlobeSt.com: You closed $120 million in acquisitions in the second quarter. Where are you at in terms of your goals for the years, and how do you expect this quarter to stack up against your acquisition volume in 3Q15 and 4Q15?