MEG Southern Properties
Concordia Realty is the operating partner for a portfolio of 35 retail and office properties in ten Southern states from a major REIT. This acquisition was made in joint venture with Merchant Equity Group and the Hampshire Company, an institutional investment manager. The majority of the properties are former bank branches that are vacant and require repositioning. As of July 2007, 30 properties had been sold and 2 more are under contract. The investment has yielded a 45% return.