Opportunity Fund Will Target NYC Assets

Real estate brokerage Colliers ABR and real estate investment advisory firm AEW Capital Management have formed a joint venture to acquire retail and office properties in the New York City metropolitan area. This will be their second joint venture together in as many years.

"Colliers ABR is a proven partner for AEW and we intend to capitalize on their extensive market knowledge, sourcing and management capabilities in order to achieve high risk-adjusted returns for our clients," says Marc Davidson, portfolio manager for the AEW Partners Fund.

The venture plans to buy more than $300 million in New York City metro assets. The focus will be on existing Class B office and retail properties, plus development sites near major transportation hubs.

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