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Acquisition of Bedford Avenue

7 May 2015 07:00

JZ CAPITAL PARTNERS LTD - Acquisition of Bedford Avenue

JZ CAPITAL PARTNERS LTD - Acquisition of Bedford Avenue

PR Newswire

London, April 29

JZ CAPITAL PARTNERS EXPANDS NEW YORK REAL ESTATE PORTFOLIO 7 May 2015 JZ Capital Partners Limited (LSE:JZCP.L or "JZCP"), the London listed privateequity fund that invests in high quality US and European microcap companies andUS real estate, has acquired 192 Bedford Avenue, located in the Williamsburgneighbourhood of Brooklyn, New York, alongside its long-term real estatepartner, RedSky Capital, LLC ("RedSky"). The property features frontage of 20 ft. on Bedford Avenue and offers up to6,000 sq. ft. of build-to-suit multi-level retail space with only one shortterm lease encumbering the property. The property represents an excellentopportunity for any retailer looking to enter the popular and vibrant neighbourhood.The purchase price for the property was US$12.3 million, funded with US$9.3million in equity, of which JZCP provided US$7.0 million. David Zalaznick, JZCP's Founder and Investment Adviser, commented:"We continueto see compelling value-add opportunities in the Brooklyn property market. Thisannouncement marks our third acquisition in Brooklyn and our seventh overall sincethe beginning of the year-demonstrating the growth of our US real estatebusiness and our commitment to build a balanced portfolio of assets thatprovide our shareholders with superior, long-term returns." Ends For further information: Ed Berry / Kit Dunford +44 (0) 20 3727 1143FTI Consulting David Zalaznick +1 212 4859410Jordan/Zalaznick Advisers, Inc. Andrew Maiden +44 (0) 1481 745368JZ Capital Partners About JZCP JZCP is a London listed private equity fund which invests in high qualitymicrocap companies, real estate and other debt and equity opportunitiesglobally but with a particular focus on opportunities in the US and Europe. Itscorporate objective is to create a portfolio of investments providing asuperior overall return comprised of a current yield and significant capitalappreciation. JZCP receives investment advice from Jordan/Zalaznick Advisers,Inc. ("JZAI") which is led by David Zalaznick and Jay Jordan. They have workedtogether for 30 years and are supported by teams of investment professionals inNew York, Chicago, London and Madrid. JZAI's experts work with the existingmanagement of microcap companies to help build better businesses, create valueand deliver strong returns for investors. JZCP, with the advice of JZAI,targets predominantly private investments, seeking to back exceptionalmanagement teams to deliver on attractive investment propositions. For moreinformation please visit www.jzcp.com.
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