CHICAGO-Pritzker Realty Group,based here, and Greenbelt, MD-based Bozzuto Group have formed ajoint venture to develop and buy apartments in the Northeast andMid-Atlantic regions. The initial investment is $75million.
The venture has already been working to line up property,primarily class A buildings for purchase and mixed-use,transit-orientated sites for development, says Tom Bozzuto, CEO.“We have four-to-five properties in our pipeline that we will soonbe able to identify,” he says.
A specific focus will be on the Washington, DC-Baltimore area,says Bozzuto. “The fundamentals in the greater Washington area haveimproved dramatically over the past 15 months, and we expect themto continue to improve,” he tells GlobeSt.com.
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