PHILADELPHIA-Rubenstein Partners is back in the commercial real estate acquisitions market after four years. The private-equity firm recently closed on four deals totaling $70 million and has about $150 million of equity in the pipeline for future investments.

The firm hasn't been active on the acquisition side since 2007. That year, in a joint-venture deal with Barry Real Estate Cos., the firm bought three-million square feet of office properties in Atlanta from Equity Office for $500 million.

These newestRubenstein transactions took place in four states: New Jersey, North Carolina, Ohio and Virginia. All four are considered value-added plays by the firm.

In Charlotte, NC, Rubenstein, with Trinity Capital Advisors, bought NASCAR Plaza, a 390,000-square-foot asset that is currently 40% occupied. The firm plans to aggressively market the silver LEED building, which is in that city's CBD.

Rubenstein acquired the former Lucent-Alcatel campus, in Whippany, NJ, which contains 15 buildings totaling just under 1.4 million square feet. The firm, with partner Vision Equities, looks to convert part of the area into office, retail, multifamily and senior-living facilities.

A 60,000-square-foot office building at 2900 Eisenhower Ave., in Alexandria, VA, was also acquired by the fund. The asset is 25% occupied and Rubenstein plans renovation work.

In Cleveland the firm originated a $15-million mezzanine loan on the Flats East Bank Development. The site is planned for an 18-story office tower, a 150-room A-Loft hotel and retail space, among other uses.