American Ventures Partners Launches $1B Fund to Invest in Distressed CRE
South Florida-based institutional real estate investment manager American Ventures Partners has launched the American Ventures Strategic Property Fund to invest in distressed U.S. commercial real estate, with a target capital raise of $1 billion. The investment fund provides a tax-advantaged structure to non-U.S. investors.
“Uncertain times offer extraordinary opportunity,” said Philip Blumberg, chairman at American Ventures. “That holds true like never before, with Class A office properties available at steep discounts. Geographically, our best opportunities will be found in states with comparatively low costs of living and taxes, such as Texas and Florida, markets where we have strong experience.”
The launch of the most recent fund marks the fifth distressed commercial real estate fund formed by Blumberg over three decades, forming funds shortly before or during severe market troughs. The new fund will focus on properties valued at more than $50 million and priced below replacement cost.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.