(Read more on the debt and equitymarkets.)
NEW YORK CITY-Stonehenge Partners Inc. has closed on a new$500-million real estate equity fund, Stonehenge Fund III. Thecompany will use this fund to acquire office, retail andresidential properties as well as targeting high-yield debtopportunities in the Tri-State area.
“Stonehenge is very excited about having this equity capitalavailable in the current environment,” notes Ofer Yardeni, one ofthe two managing partners at the company. “Stonehenge believes thatgiven New York's economic strength, supply and demand imbalance andthe scarcity of prime developable land, long-term valueappreciation is expected.” Yardeni adds that Stonehenge remainsfocused on investments in a market in which real estatefundamentals remain very strong.
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