Lou Pektor and an actual property funding agency have shaped a $150 million three way partnership to purchase and develop condo and industrial properties within the Lehigh Valley.
Pektor’s Greystone Capital Inc., based mostly in Bethlehem, will develop and function properties for the three way partnership, whereas Black Bear Asset Administration LLC will give attention to investing capital.
“Black Bear Asset Administration is an impressive funding associate,” Pektor stated in a press release. “We now have assembled a particularly high-quality portfolio of initiatives collectively throughout the Lehigh Valley in a brief time period.”
New York-based Black Bear (BBAM) and Greystone have made two investments collectively just lately, together with Polk on Third, a $14 million mixed-use property in south Bethlehem. Black Bear and Greystone every personal half of that property at 310-322 East Third St.
“The Lehigh Valley is a quickly rising market and we’re delighted to be part of it through our relationship with Greystone and their portfolio of properties throughout a number of asset lessons,” stated Brian Manz, senior managing director of BBAM.
Pektor can be main the event of Sullivan Parke, a $25 million BBAM challenge at 2280 Lafayette Park Drive in Forks Township. 4 buildings with 102 residences whole are deliberate for the positioning.
Pektor and his improvement crew are busy with a number of initiatives, together with River Pointe Logistics Park in Higher Mount Bethel Township, greater than 800 acres of proposed industrial improvement alongside the Delaware River.