PHIILADELPHIA, Jan. 26, 2022
/PRNewswire/ -- Arden Group (Arden), a vertically
integrated real estate investment management firm, announced 2021
was another successful year, as the company closed 41 transactions
representing $3.2 billion in total
deal volume.
The firm's transactions throughout 2021 consisted of numerous
acquisitions, dispositions, and financing for properties throughout
the U.S. across a variety of asset classes including industrial,
multifamily, life science, hospitality, and office. Arden also
continued to expand its real estate management platform with
investments in qualified Opportunity Zones as well as launching its
new Arden Logistics Parks division focused on the acquisition and
management of light industrial properties nationwide and the launch
of Arden Digital Ventures, the firm's prop-tech investment
initiative.
"Arden had a tremendously active year in 2021, executing over
$3.2 billion worth of transactions
while further expanding our diversified platform despite a highly
challenging investment environment," said Craig A. Spencer, Chairman and CEO of Arden
Group. "Since its inception in 1989, Arden has successfully
navigated its way across a variety of market cycles and that
continued over the last year as we nearly tripled our average
annual transaction volume. Arden continues to advance its position
as one of the nation's leading real estate investment firms and
we're excited to build on our strong momentum throughout 2022."
Transaction highlights for the firm throughout 2021 include the
following:
Industrial Sector:
- Arden completed 19 industrial transactions in 2021 totaling
$1.9 billion in acquisitions and
capital markets transactions.
- The firm also announced a joint venture with Arcapita in
November to acquire U.S. industrial properties seeded with an
initial portfolio valued at over $800
million.
Opportunity Zone Investments:
- Arden invested in Qualified Opportunity Zone properties
nationwide in the multifamily, life science, and student housing
sectors, committing $124 million of
equity to five acquisitions with a total capitalization of
$622 million.
- The firm has expanded into seven Opportunity Zone markets,
including New York City,
Philadelphia, Jersey City, Nashville, Miami, Las
Vegas and Salt Lake
City.
Hospitality Sector:
- Arden acquired the 421-key Grand Bay Hotel San Francisco in
Redwood Shores, California and
completed a $57 million senior
mezzanine loan investment in the newly-constructed Margaritaville
Resort Times Square hotel in New York
City.
- Over 2020 and 2021, Arden has successfully restructured the
debt in its hotel portfolio.
Office Sector:
- Arden completed $338 million of
office transactions in 2021, including selling the BB&T Center
office building in Charlotte and
acquiring a portfolio of five buildings and two development sites
in the Silicon Slopes area of Salt Lake
City, Utah.
- The firm also saw strong leasing activity throughout its office
portfolio including completing approximately 100,000 square feet of
leases at 1735 Market Street and 31,000 square feet of leases at
the Four Falls property, both in Philadelphia.
About Arden Group
Arden Group is a vertically
integrated real estate investment management firm focused on equity
and debt investments in the top 25 US MSA's. Founded
in 1989, Arden has acquired over $6
billion of properties and asset managed in excess of
$11 billion of commercial real estate
assets since inception. In 2012, Arden Group established Arden Fund
Management, its real estate equity and debt fund management
business with offices in Philadelphia,
New York, Charlotte,
Atlanta, Tampa, Miami,
Dallas, Minneapolis, and Newport Beach. Arden Group has been
consistently ranked globally as a top performing Private Fund
Manager by both Cambridge Associates and Preqin including
Preqin's #1 global ranking in 2017, 2018 and 2019.
Visit www.ardengroup.com.
Contact:
Great Ink Communications, Ltd. - 212-741-2977
Tom Nolan (328425@email4pr.com)
Jimmy Lappas
(328425@email4pr.com)
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SOURCE Arden Group