(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.


Stonehenge has been in the news recently for its acquisition of330 E. 63rd St. for $39 million from 63rdEast Side Realty LLC, where it intends to upgrade and renovate theproperty. “We will continue to invest in high-quality, value-addedinvestments and joint ventures with partners who share the samevision,” explains Joel Seiden, managing partner at Stonehenge. “Theability to act and close quickly will provide a valuable nicheduring these challenging credit times. We remain strongly committedto the value of New York as a vibrant business and mediacapital.”


Among the more notable properties that Stonehenge Partners ownsand operates include the Olivia, the Ritz Plaza, Stonehenge Village, 20Park Ave. and 41 Park Ave. Over the past decade, Stonehenge hasclosed on transactions in excess of $2 billion comprising more thanthree million sf.

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.