Northbrook, Ill. -- Pine Tree Commercial Realty and New York City-based Silverpeak Real Estate Partners announced they have formed a joint venture with the goal of acquiring retail assets and portfolios across the United States.
According to Chris Westfahl, principal of Silverpeak, and Peter Borzak, co-founder and principal of Pine Tree, the new JV – Pine Tree Silverpeak Retail Partners LLC – plans to pursue transactions greater than $10 million and across the risk spectrum, ranging from raw land for development to stabilized core assets.
"Specifically, we are seeking box- and grocery-anchored strip retail
centers," says Borzak, "as well as select mixed-use opportunities."
According to Westfahl, this will be the first retail platform that
the company has launched since the investment advisory business formed
last year as a successor to Lehman Brothers Real Estate Partners.