NEW YORK, NY (September 9, 2013) –
Basis Investment Group (www.basisinvgroup.com) has provided $24.8 million in mezzanine and preferred equity investments for the recapitalization or acquisition of four properties estimated to be worth $170 million in a joint venture with Artemis Real Estate Partners. The transactions were made on behalf of New York State Common Retirement Fund’s (“NYSCRF”) $300 million real estate emerging manager program, which seeks to invest with best-in-class operating partners who have market and product expertise. Basis Investment Group has been approved by NYSCRF as an operating partner in the emerging manager program. The joint venture is focused on making mezzanine and preferred equity investments secured by ownership interests in qualifying multi-family and commercial real estate properties throughout the United States.
The joint venture has invested $24.8 million in capital across 4 investments and is actively seeking similar opportunities:
Mezzanine and preferred equity investment to recapitalize the Bellevue Galleria, a Class A 203,685 square foot mixed-use (retail/office/parking) property located in the central business district of Bellevue, WA.
- Preferred equity investment to capitalize the acquisition of The Anderson at Clairmont, a 408-unit Class A multi-family property in Atlanta, GA.
- Mezzanine investment to capitalize the acquisition of the Knoxville Self Storage Portfolio, a 414,615 square foot 3,491-unit portfolio of self-storage properties located in Knoxville,TN.
- Mezzanine investment to capitalize the acquisition of the Ten Plaza West, a 105,619 square foot office building located in Houston, TX.
About Basis Investment Group
Basis Investment Group (“Basis”) Basis is a multi-strategy commercial real estate (“CRE”) investment platform that originates and securitizes senior mortgages on stabilized properties (CMBS), invests in subordinate debt including mezzanine loans, B-Notes & preferred equity, and
opportunistically buys CMBS tranches including B-pieces & performing & distressed whole loans. Since inception, Basis has closed approximately $1.12 billion in CRE investments, over 116 deals in
40 states. More information about Basis may be found at www.basisinvgroup.com.
About Artemis Real Estate Partners
Artemis Real Estate Partners is a real estate investment management firm that seeks to invest with best-in-class local operating partners, both established and emerging, in multifamily, office, industrial, retail and senior housing across opportunistic, value added and enhanced core strategies. Artemis has raised $736 million of investor capital across two vehicles: $436 million of capital for Artemis Fund I and $300 million of capital in a separate account with The New York State Common Retirement Fund. Artemis’s sole focus is U.S. commercial real estate. More information about Artemis and the separate account may be found at www.artemisrep.com.
For More Information:
Basis Investment Group:
Shaunak Tanna
(212) 915-0699
Artemis Real Estate Partners:
Michael Bernstein
(646) 582-0128