Alexander Anderson Real Estate Group has launched Alexander Anderson Capital Group, a real estate syndication arm, to sponsor, acquire and redevelop projects in downtown areas that are undergoing a revitalization in conjunction with small or individual real estate investors.
As part of the launch, Alexander Anderson Capital Group has announced it has closed on two syndicated real estate transactions for projects in Hackensack, and Newark, NJ.
Real estate syndication allows investors with a common purpose or vision to pool capital to invest in real property. As the sponsor or syndicator, Alexander Anderson Capital Group finds, acquires (including obtaining the needed financing) and manages the real estate itself.
According to Eric Anderson, CEO of Alexander Anderson, “Through Alexander Anderson Capital Group, we can bring the same out-of-the-box vision for redevelopment, extensive real estate investment expertise and management experience to the small investor, who might always have been interested in real estate but lacked the sufficient capital, knowledge or experience.
“Alexander Anderson Capital Group now affords them access to deal flow and an opportunity to invest with professional development and management experience supporting their investment.
“At the same time, our new Capital Group can help clients that might not otherwise have been able to sell their struggling or vacant property because it was not purposed in the right way or for sale,” he added.
Alexander Anderson Capital Group most recently closed on a $300,000 transaction for a 6,500 s/f vacant office building at 277 Halsey Street in Downtown Newark’s business improvement district.
Alexander Anderson will convert the vacant structure into new loft-style office space.
The group also closed on a $395,000 transaction for a three-story commercial office building at 5 Atlantic Street in Hackensack, NJ, next to a new Performing Arts Center.
Alexander Anderson plans to redevelop the property to feature a bistro on the ground floor and two two-bedroom apartment units on floors two and three.