Much Shelist Represents IRA Capital in Multiple Property Acquisitions Totaling More Than $70 Million
During the second quarter of 2016, Much Shelist helped client IRA Capital close three commercial real estate acquisitions totaling nearly 210,000 square feet of retail and office space. Collectively, the transactions were valued at more than $70 million. Attorneys and paralegals in the firm’s Real Estate practice group handled the acquisition of the properties, titles, lease reviews, legal opinions and loan documents.
The properties included Poinsettia Plaza, a 153,000-square-foot retail center in Ventura, CA; Hauser-Ross Eye Institute, a brand-new, 36,000-square-foot Class-A medical office building and surgery center in Sycamore, IL; and an 18,000-square-foot multispecialty clinic in Houston, TX, that was constructed in 2014 for UT Physicians, the clinical practice of the University of Texas.
Nader R. Ghosheh, a California-based Principal in the Much Shelist Real Estate group, led a multi-office team that also included Principals Glenn D. Taxman, Joel E. Resnick and Michael D. Burstein; Associate Patrick A. Brennan; and Paralegals Maribeth Robinson and Janiece Waters.
IRA Capital is a privately held real estate investment and management company with a diverse portfolio of commercial property holdings throughout the United States. Based in Irvine, CA, IRA acquires core, core-plus and value-add real estate for its own account and on behalf of its co-investment partners, which include high-net-worth individuals, family offices, opportunity funds and institutions.