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City Club, Berkeley Capital Forge Partnership
Cleveland-based private equity firm Berkeley Capital has formed a strategic partnership with developer City Club Apartments, LLC. Via the partnership, the two firms intend to create efficiency in real estate investment, development and acquisition.
Michael Wager, managing director of Berkeley Capital, said, “Berkeley Capital and City Club Apartments have very similar philosophies about real estate investment, an alignment that is key to a strong and lasting partnership.”
With offices in Farmington Hills, MI and Chicago, City Club Apartments looks to continue expanding its footprint with its partners at Berkeley Capital, as they seek alternative sources of capital for future multifamily development projects.
“Berkeley Capital’s exclusive focus on international capital was very attractive to us,” said Jonathan Holtzman, chairman and CEO of City Club Apartments. “Not many firms of its size are able to accommodate cross-border investment, and we feel Berkeley’s capital sources will add significant value to our multifamily projects.”
Pictured: City Club CBD Detroit.
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