Prime Estates & Developments, Inc. announced yesterday that they entered into a joint venture agreement with Madison Realty Advisors, LLC. Prime Estates & Developments’ aim is to acquire Madison’s all-encompassing real estate expertise. Madison Realty Advisors is a California based real estate advisors firm.
Madison will actively seek commercial real estate properties for acquisition by Prime. They will negotiate the acquisition, perform due diligence on the properties, arrange financing and close the properties. They will subsequently perform property management, asset management as well as be responsible for the ultimate disposition of the properties.
Prime Estates & Developments, Inc. intends to acquire and operate commercial real estate and real estate related-assets. These includes those requiring development, redevelopment or repositioning, those located in markets and submarkets that they believe to have high growth potential and those available from sellers who are distressed or face time-sensitive deadlines.
Spiros Sinnis, Prime Estates & Developments, Inc.’s President said, “The joint venture with one of the most experienced real estate professionals in the U.S.A. will provide exceptional expertise to our company and will assist us in the achievement of our goal which is to create a profitable real estate portfolio for the benefit of our company and shareholders.”
Prime’s investment strategy may also include investments in real estate-related assets that the Company believes present opportunities for significant current income. This is due to current economic circumstances in the real estate industry. These types of investments may also have what the Company believes to be opportunities for capital gain, whether because of a discount purchase or related equity participations.
They may acquire a broad assortment of commercial properties. This includes office, industrial, retail, hospitality, recreation and leisure, single-tenant, multifamily and other real properties. Their investment strategy may also include development projects that they will build or participate in building for sale or lease.
Prime Estates & Developments, Inc. is a real estate investment and management company. They have their headquarters in Skokie, Illinois.