Russian conglomerate, Rosen Partners join forces

Russian conglomerate Alfa Group will join forces with New York-based Rosen Partners, forming a joint venture that will target $100 million-plus commercial and multi-family investments, CoStar News reported. Rosen Partners is a private real estate developer, and Alfa Group is a privately held company that counts among its assets one of Russia’s largest privately owned banks, a large telecom company, and Russia’s largest food retailer. The venture’s focus will be on multi-family, hospitality and office properties as well as debt investments in major metropolitan markets in the Eastern U.S.

“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 Mikhail Fridman, chairman of Alfa.

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Rosen Partners head Jack Rosen told CoStar that his firm will manage some assets, but, depending on their size, may seek help from third-party management entities.

“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, a managing director at Rosen Partners. [CoStar]