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Flickr/Jakob Montrasio
Real estate investment and advisory firm Vanabarton Group has reportedly raised over $1B for a fund to buy commercial properties in core US cities.
Vanabarton primarily targets NYC and San Francisco, but anonymous sources tell the Commercial Observer the fund could be used to launch its entry in Miami, Chicago, LA, Seattle, Boston and Washington, DC.
A Vanabarton rep declined comment.
Gary Tischler and Richard Coles formed the firm in 2015, and it didn't take them long to spring to action. They quickly bought the leasehold on 31 Penn Plaza in Midtown Manhattan for $265M and then grabbed Riverdale Crossing in the Bronx for $133M. [CO]
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