According to the Atlanta Business Chronicle, Seth Klarman's Baupost Group will provide $300 million in equity to restart the "Streets of Buckhead" commercial real estate project in Atlanta, Georgia. Oliver McMillian Inc has purchased the luxury project and plans to start building this year.
We're highlighting this news because it ties directly into what Klarman said last year: he's finding opportunity in commercial real estate. The caveat with that statement, of course, is that he's been focused on private real estate.
In a time when Baupost sees less opportunity in the markets and has even returned some investor capital, this is an example of where Klarman is putting money to work. It's not very often you hear updates on what Baupost is doing, so we wanted to highlight it for those interested. For more from this great investor, check out Seth Klarman's recommended reading list.
Wednesday, March 2, 2011
Baupost Group Provides $300 Million in Commercial Real Estate Project
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