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Amstar holds $106m close

by Andrea Waitrovich

Amstar held a final close for its Amstar Poland Property Fund I, according to Institutional Real Estate, Inc.'s FundTracker database. The opportunistic multifamily fund raised $106.7 million after it launched in June 2014. It will make direct real estate investments in Poland.

Recently, Amstar acquired Zlota 44, a premier for-sale residential tower located in the city center of Warsaw. The 52-story property is the tallest residential tower in the European Union. Amstar will partner with BBI Development to finish development of the 90 percent completed project and prepare its 226 luxury residential units for sale. The property was sold by ORCO Property Group for €63 million.

Established in 1987 and headquartered in Denver, Amstar is a real estate investment manager that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select U.S.

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