Quad Equities Acquires 10-Unit Student Housing Complex

FOR IMMEDIATE RELEASE

Date: 12/18/13

Contact: Jariel Bortnick, jbortnick@quadequities.com, (646) 362-3284

Quad Property Group Acquires Gainesville, Florida Multi-Family Property.

10-unit complex is located one block from the University of Florida’s campus.

New York, NY – An affiliate of Quad Property Group, a Florida and New York-based real estate investment company, has acquired a 10-unit apartment complex located at 102 NW 15th Street in Gainesville, Florida, adjacent to the University of Florida’s campus.

Jariel Bortnick, the founder and CEO of Quad Property Group, said that the property represented a prime investment opportunity.

“This is a unique asset, combining a strong student rental property with an irreplaceable location one block from the University of Florida campus. Properties rarely change hands in this neighborhood and this particular property was owned by the same family for over 70 years,” Bortnick said.

Highlighting the strength of the market and the specific asset, Quad Property Group moved incredibly quickly to close the deal. Bortnick said that his company completed the entire transaction, from signing the contract to closing, in approximately 3 weeks.

“Gainesville is a market that we have worked in extensively over the past several years,” noted Bortnick. “This property is very well-positioned for the future, as it is surrounded by higher density development. With U14 already taking shape down the street and the eventual development of the nearby University Corners site, we are confident in the property’s long-term potential.”

According to Bortnick, the company is actively seeking additional acquisitions in Gainesville.

About Quad Property Group:

Quad Property Group is a real estate investment company that specializes in the ownership, redevelopment and management of retail and multi-family real estate. The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value to commercial properties. For more information, visit the company’s website at www.quadequities.com.

 

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