MIG Real Estate has revealed plans to invest up to $600 million in fresh property acquisitions for 2012. The Newport Beach-based the real estate investment company, formerly known as Stoneridge Capital Partners, closed more than $400 million in new investments since the first quarter of 2009, adding $200 million in investments to finish up the 2011 year.
“We want to triple acquisition volume over 2011, with growth provided from our established markets, as well as expansion into the Pacific Northwest, Texas and other select Sun Belt markets, ” said MIG Real Estate CEO Greg Merage, adding that the company had recently hired two new associates to aid the firm’s acquisitions in that region.
The firm’s 2011 acquisitions include office properties and hotel and hospitality real estate in California, Wyoming, Nevada, Colorado, Washington and Canada. Currently, MIG Real Estate’s holdings and investments are comprised of office, hotel, retail and multifamily residential properties. With properties located throughout California, Arizona, Colorado, Hawaii, Nevada, Wyoming, Portland and Salt Lake City, MIG Real Estate kicked off 2012 with its first purchase in the Seattle real estate market.
The firm’s portfolio of three million square feet in real estate, valued at $400 million in investment assets, is to be expanded with the company’s decision to acquire property throughout Texas in Dallas, Houston, Austin and San Antonio.
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