One of Russia's largest privately-owned financial-industrial investment conglomerates, Alfa Group, has partnered with Rosen Partners, one of New York's most experienced private real estate developers, to invest in commercial and multifamily real estate in the Eastern United States.
The venture will target assets in the $100 million-plus price range with a primary focus on multifamily, hospitality and office properties and debt investments in major metropolitan markets.
"Alfa looks forward to working with our long-time partners, the Rosens, to take advantage of current market opportunities to acquire and manage a solid portfolio of properties," said chairman Mikhail Fridman, whose Alfa Group counts Alfa-Bank (one of Russia’s largest privately-owned banks), TNK-BP (a major Russian oil and gas company), Altimo (one of Russia’s largest wireless and fixed-line telecommunications companies), X5 Retail Group (Russia’s largest food retailer) and Alfa Capital Partners (a private equity management firm) among its many holdings.
Rosen Partners has a portfolio of thousands of multifamily apartments and has built more than three million square feet of multifamily, senior living and hotel properties in its 30-year history. The firm typically pursues investment opportunities where it’s entrepreneurial and value-add experience can make the most of ready capital.
Rosen Partners' chairman Jack Rosen said his firm is poised to manage select assets in the growing portfolio, but will also be working with third-party management firms and local partners depending on the size, location and type of property or investment.
"We are interested in making the most of our relationships with sellers and brokers around the US, investing in distressed opportunities as well as stable, core assets. We’re in a unique and enviable position of having deep and agile capital, along with a track record on both sides for getting deals done and creating value," said Daniel Rosen, managing director of Rosen Partners.