BLOOMFIELD HILLS — Alidade Capital, a Bloomfield Hills, Michigan-based private equity firm, purchased 355,524 square feet of assets from special servicer, CIII. Following the competitive multi-bidder buy-side process, Alidade executed a swift closing of the $12.2 million deal consisting of eight structures.
Located in Plymouth, the acquisition includes three industrial, one office, and four office/flex buildings. “We look forward to creating value for our investors vis-à-vis our planned upgrades, management, and additional leases,” said Geoff Langdon, director of acquisitions and managing partner for Alidade Capital.
Capital improvements are immediately planned for the properties, which will include roof, HVAC, and parking lot upgrades. Alidade plans to engage professional property management for the portfolio.