BH Properties Sheds Upwards of $200M in Assets

Andrew Van Tuyle

LOS ANGELES—BH Properties has sold $211 million in assets across the US. The sale included industrial, office, multifamily and retail properties, and totaled 20 assets. While the properties in the disposition included assets in Texas, Arizona, Florida, Virginia, Colorado, Utah, California, the largest transactions were in Arizona and Texas. BH Properties disposed of these assets in anticipation of new properties coming on the market in the coming years.

“We think that there will be new kinds of opportunities in the next year or two, and we wanted to be prepared internally to be able to write big checks quickly,” Andrew Van Tuyle, chief acquisitions officer at BH Properties, tells GlobeSt.com. “Due to the way we are structured, we don’t have any outside investors so what can set us apart from our competition is our ability to transact much sooner than other buyers.  Our goals for this year are more aggressive than they’ve ever been, and by disposing of some of these assets we will have less management issues or capital liabilities to worry about.