ASB Real Estate spends $230 million for its core fund
ASB Real Estate Investments has been adding prime properties to its portfolio on behalf of the Allegiance Fund, its $2.7 billion core real estate vehicle. Since the beginning of the year, the firm has acquired nine assets totaling $230 million.
The open-end fund launched in 1984. The fund currently has 65 investments. It invests in markets with assets that have unique, competitive advantages to drive long-term tenant demand. Allegiance Fund primarily acquires U.S. industrial, multifamily, office and retail properties and land.
Recently, ASB Allegiance Fund purchased a number of class A retail properties in leading urban shopping districts in Denver, Los Angeles, Miami, New York City and Washington, D.C. The acquisitions fit ASB’s portfolio strategy to increase holdings in “High Street” retail investments in upscale urban infil