Cannon Hill Capital Partners. a vertically integrated real estate firm, has entered into a partnership with TriPost Capital Partners. The capital investment will allow Cannon Hill to scale its acquisition activities in New York City, Boston and Washington, DC, with a focus on distressed office properties. The partnership will enable the acquisition of up to $1.5 billion in strategic office assets over the next three years.
“We see the current vintage for new office investments to be highly attractive,” said Jeff Gronning, co-founder and CEO of Cannon Hill. “After a steep market decline, liquidity is returning to the office sector, and values are rising again. We’re optimistic that alongside TriPost, we can deploy our expertise and capital into our growing pipeline of compelling investment opportunities.”
The partnership will target the acquisition of direct real estate and non-performing loans backed by high-quality, income-producing properties, in tandem with third-party joint venture investors. It will also seek to provide “rescue capital” to owners in select situations and pursue opportunities for office redevelopment or conversion.
The post Cannon Hill, TriPost Partner on Strategic Office Acquisitions appeared first on Connect CRE.