Philip Blumberg, managing partner at American Ventures Partners, has launched a $1 billion fund to invest in distressed commercial real estate as well as supply-chain/logistics warehousing. Mr. Blumberg has a long history of buying distressed real estate in his previous funds. (Generating an average annual return of 17.9%, net of fees and expenses). In 2000, Pensions and Investments and The National Council of Real Estate Investment Fiduciaries independently ranked American Ventures in their top funds.
Mr. Blumberg is seeking to purchase commercial properties in Sunbelt States, specifically Florida and Texas primarily due to the low-tax structure and low cost of living. The distressed loan/foreclosure market will create one of the best buying opportunities since 2010.
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