Praedium Group | The Real Deal New York

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Praedium Group

825 Third Avenue
New York, NY 10022
(212) 224-5600
Website
chughes@praediumgroup.com

Praedium Group is a real estate investment trust focused on the middle market, targeting underperforming properties for less than $75 million. Its primary geographic focus has been the Midwest and Pacific Northwest, but it also has invested extensively in Manhattan. Formed in 1991, the firm has completed more than $10 billion in transactions and has sponsored more than eight private equity funds. In 2001 Montreal-based Caisse de depot et placement du Quebec invested $100 million in Praedium, and the two institutions have had a long-term partnership ever since. Praedium has a particularly active year in 2015, as it competed more than $2.5 billion in transactions during the first eight months of that year (most of which was from liquidation). Those transactions included 40 apartment properties and more than 600,000 square feet of office and retail space. For many of its deals Praedium prefers to partner with local firms, such as with Pinnacle Group, which it has joined with on many Manhattan transactions (the two joined on a buying spree that bolstered Pinnacle’s profile between 2004 and 2006).


05/10/17
...office markets too? Russell Appel, founder of the Praedium Group, believes so. “My sense is the rhetoric is definitely having an impact on both...

04/26/17
...could potentially go toward a $42 million buyout of Praedium Group on a 10-building rental portfolio along Riverside Drive they own together with Pinnacle, according...

06/08/16
...as Starwood Capital Group, the Carlyle Group, the Praedium Group and Pearlmark Real Estate Partners. Siguora said Highpoint would look to tap into those...

02/04/16
...development. In January 2015, Pinnacle bought out its partner Praedium Group, taking sole ownership of an eight-building Manhattan and Brooklyn rental portfolio, paying $31.7 million. Pinnacle...

06/30/15
...streets was converted from condominiums when the seller, Praedium Group, acquired the property for $14.5 million in 2012. The seven-story building spans nearly 35,000 square feet and...

05/14/15
...Sayegh, paid $22 million to the Pinnacle Group and Praedium Group for the property in 2013. Over the eight years that Pinnacle and Praedium owned the...

01/27/15
...Wiener's the Pinnacle Group bought out its partner, Praedium Group, in an eight-building Manhattan and Brooklyn rental portfolio for $31.7 million, according to property records...

01/14/15
...hit the market in 2009 for $12.2 million. Then, the Praedium Group sold it in 2011 to Castle Lanterra for $11 million, records show. Parkway is perhaps best...

07/16/14
...the founder of Burke Leighton Asset Management, paid Praedium Group and Pinnacle Group $22 million for a 200-unit rental building at nearby 805 St. Mark’s...

04/18/14
...for storage amid proposed carriage ban 2. New York-based Praedium Group buys $49 million Colorado apartment complex 3. Cayre Investments’ 40-story tower rising at 218 West 35th Street...

03/20/14
...in 2011 in an all-cash transaction financed by the Praedium Group. Berkly Acquisitions served as the broker. Residences have private elevator access, walnut flooring, in-unit...

11/11/13
...Naftali Group purchased from private equity firm the Praedium Group in 2012, 182 West 82nd is the company's first condominium project in Manhattan. -- Julie Strickland...

10/05/13
...in 2011 in an all-cash transaction financed by the Praedium Group. The seller was 8008 Realty Corporation. The two available units are both 2,771-square-foot two-bedrooms, with...

09/12/13
...by a joint venture of Pinnacle Group and Praedium Group, which lost the property after they defaulted on the loan with a $192 million face...

08/22/13
...UPDATED , 1.15 p.m., Aug. 22: A partnership between the Praedium Group and Pinnacle Group, both long-term investors in multi-family walk ups in Manhattan and Brooklyn...

02/19/13
...bought out its equity partner on the deal, Praedium Group, for about $30.3 million, city records show. And then Meadow Partners, led by managing partner...

10/08/12
...West 141st Street. Pinnacle Group and financial backer Praedium Group transferred the properties after defaulting on the loans. Dune Real Estate paid $120 million in...

10/01/12
...sale of the note on the Pinnacle Group/Praedium Group multifamily portfolio. A Jones Lang LaSalle Hotels team brokered the hotel sale, and a...

08/02/12
...sold for $17 million to private equity firm the Praedium Group last month, will be redeveloped as luxury condominiums, Crain's reported. The five-story, mixed-use buildings...

07/12/12
...sold for $17 million to private equity firm the Praedium Group, city records filed today show. The five-story, mixed-use buildings are located at 176-182 82nd...

04/18/12
...unit. As The Real Deal reported last month, Praedium Group, North End Equities and Knightsbridge Properties purchased the building shortly after it was completed...

03/27/12
...Real Deal yesterday reported was purchased by the Praedium Group in a partnership with North End Equities earlier this month, is going rental, MNS...

03/26/12
...The Praedium Group, a New York City-based real estate investment firm focusing on underperforming and undervalued assets...

02/17/12
...of the market." Mason Sleeper, principal at the Praedium Group; Richard Dansereau, managing director at Stonehenge Partners; Ralph Hertzka, CEO of Meridian Capital Group...

11/29/11
...by controversial landlord the Pinnacle Group with the Praedium Group during the real estate boom. Pinnacle alone was thought to have purchased $1 billion in...
  • Event Sales
  • Address 143 Linden Street 2513 Newark Avenue 416, 422 East 17th Street 1617 President Street 233 East 77th Street 237 West 18th Street 349 East 51st St
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 32,000,000
  • Event Sales
  • Address 182 West 82nd Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 17,050,000
notes
The package of contiguous apartment buildings sold for $17.05 million. The properties are located at 176, 178, 180 and 182 West 82nd Street.
  • Event Sales
  • Address Upper West Side portfolio
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 17,050,000
  • Event Sales
  • Building Name 176-182 82nd Street
  • Address 176 82nd Street
  • Borough Manhattan
  • Price $ 17,000,000
  • Publication Date 09/01/2012
  • Event Date 07/23/2012
  • Party 1 Navistone Amsterdam LLC
  • Party 2 Praedium Group
notes
The package of buildings sold for $17 million. The sellers acquired the properties for $18.7 million in May 2008. Includes 182 82nd Street.
  • Event Sales
  • Address 109 Gold Street
  • Neighborhood DUMBO
  • Borough Brooklyn
  • Price $ 14,500,000
  • Publication Date 05/01/2012
  • Event Date 03/17/2012
  • Party 1 Constellation Group
  • Party 1 Broker Stephen Palmese
  • Party 2 Praedium Group, North End Equities
  • Event Sales
  • Address 109-15 and 109-25 Merrick Boulevard
  • Neighborhood Jamaica
  • Borough Queens
  • Price $ 9,050,000
  • Event Sales
  • Address East Harlem portfolio
  • Borough Manhattan
  • Price $ 26,900,000
notes
The affordable housing portfolio sold for $26.9 million. Known as Met Paca I and Met Paca II, the buildings operate under a Section 8 rent subsidy contract with the U.S. Department of Housing and Urban Development. The new owner plans to continue to maintain the portfolio as affordable housing.
  • Event Sales
  • Address 20 Henry Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Price $ 19,600,000
  • Event Sales
  • Address Brooklyn and Bronx portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 47,100,000
  • Event Office Leasing
  • Address 825 Third Avenue
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 9,700
notes
Moves from 950 Third Ave
Brooklyn, 11201
Praedium Group | North End Equities, GOLD & YORK DEVELOPMENT LLC
...
Brooklyn, 11225
Praedium Group, 382 EASTERN LLC
...

...venture of Pinnacle Realty and private equity firm Praedium Group for $18.9 million in December 2009. That price indicates that Pinnacle and Praedium took a $1.5 million...
Brooklyn, 11225
Praedium Group, 382 EASTERN LLC
...
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