Tuesday, April 23, 2019 / by Juan Grimaldo
(Image: Provided Northstar Commercial Partners)
Northstar Commercial Partners owns two buildings in the Valley, including this Chandler office.
(Image: Provided by Northstar Commercial Partners)
Brian Watson, founder and CEO of Northstar Commercial Partners
Watson said the fund will focus 75% of the money on value-add assets, including buildings that need new roofs, interior finishes landscaping and building out spec suites. The remaining 25% of the fund will be used to acquire cash-flowing assets.
“We look for assets that have a good story, we like to go in and improve a property, make it more user-friendly for the tenants,” Watson said.
Watson said the Phoenix market is a key focus for , and the group already is considering several options for its next moves in the Valley.
The company already has $75 million under contract to be purchased in other markets, including Houston and Denver.
Author: Corina Vanek, Reporter, Phoenix Business Journal