ATLANTA, April 28, 2011 /PRNewswire/ -- TriBridge Residential, an Atlanta-based multi-family investment company, and Pritzker Realty Group, a Chicago-based real estate investment company, have announced the creation of a new venture with an initial capital commitment of $75 million.
Under the terms of their agreement, Pritzker Realty Group and TriBridge Residential are seeking multi-family acquisition and development opportunities across the South. This new venture has already executed three deals including acquisitions in Austin, Texas and Orlando, Florida.
"We have long admired Pritzker Realty's organizational strength, reputation and forward-thinking approach to business," said Michael Tompkins, Managing Partner of TriBridge Residential. "Our performance-first approach makes us an ideal fit with Pritzker's culture of excellence. We are excited to bring our collective perspective to create the best residential experiences to the market."
"This partnership allows us to leverage TriBridge Residential's expertise as the South's leader in multi-family real estate," said Penny Pritzker, Chairman and CEO of Chicago-based Pritzker Realty Group. "We anticipate and look forward to growing this relationship over the long term."
About TriBridge Residential: Atlanta-based TriBridge Residential is a leader in multi-family real estate in the South. TriBridge Residential offers a wide range of specialty services from investment and acquisitions to property management, development and construction. The company manages 18,000 units in 15 cities across seven states throughout Georgia, Florida, Texas, Tennessee, North Carolina and Alabama. The TriBridge Residential team applies their in-depth market knowledge and experience over multiple real estate cycles to generate creative, proactive solutions for their residents, clients and investors. For more information on TriBridge Residential, please visit www.TriBridgeResidential.com.
About Pritzker Realty Group: Pritzker Realty Group (PRG) is a value-added investor, founded by Penny Pritzker, that focuses on a broad range of direct equity and debt investments in real estate assets, portfolios and joint ventures nationwide. Since 1991, PRG has overseen real estate assets with a combined value of more than $5 billion including residential buildings, office and industrial developments and parking lots. For more information, please visit www.pritzkerrealty.com.
Holly Clifford Corral
SOURCE TriBridge Residential