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MIAMI BEACH, FL-Locally based Stonemason Partners LP has completed its initial round of fundraising for its Fund I. The commercial real estate company, founded just last year, plans to buy more than $100 million worth of multi-tenant retail assets and distressed property throughout the Southeast and along the Eastern Seaboard over the next four years.

Stonemason has been securing investors nationwide over the past year and is now able to capitalize on current conditions, says Gustaf Arnoldsson, the firm’s managing member. “We are bullish on the market opportunities and are well-positioned to guide our clients and investors to success through these challenging economic times.”

The firm’s local investment portfolio currently includes a retail strip center, an apartment building and a hotel along Miami’s South Beach, as well as management of 15 other properties, Arnoldsson says. Its core competencies are to redevelop, reposition and re-tenant, he adds.

“The ultimate goal is to keep vacancy low and implement cost control as we strive to secure new tenants while maintaining existing ones and keeping them satisfied,” Arnoldsson says. “The fact that we have been able to raise the capital needed to acquire more than $100 million of commercial property in a severe economic downturn is a testament to the trust our investors have placed in us.”

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