Finesa Announces First Acquisition by Diversified International Partners (DIP) Fund

ROCKVILLE, Md., Oct. 31, 2012 /PRNewswire/ -- Finesa Real Estate Group announces the first investment of its $200 million equity fund, Diversified International Partners (DIP).  On October 26, 2012 Finesa closed on a $10.1MM investment called Sixth Avenue West, an approximately 125,000SF commercial office building located in the West Denver submarket. 

The building offers an easily accessible location, located less than one minute from the 6^th Avenue Freeway, which is also convenient to major arteries including I-70, C-470, I-25 and Colfax Avenue.  The property is located 15 minutes west of Downtown Denver and is only minutes east of the Denver Federal Center, a General Administrative Services facility that houses approximately 6,200 employees for many Federal Agencies.    

"We're excited about this initial investment for the Diversified International Partners Fund," said Andres Gonzalez, President of Finesa.  "The opportunity in the West Denver submarket allowed us to purchase Class A space at a significant discount to replacement cost.   We have developed a strong capital improvement plan which we expect will benefit the asset and the investment."

DIP is a real estate private equity fund developed for Latin American institutional and qualified high net worth investors. Finesa successfully secured commitments from some of the most prominent pension fund and endowment managers in Latin America.  Transwestern Investment Management (TIM) is the exclusive investment manager and, as such, managed the acquisition process. DIP is actively seeking investments in the best markets across the country, focusing on multi-family, retail, office, and industrial/flex properties.

FINESA  REAL ESTATE GROUP

Finesa Real Estate Group ("Finesa") is a real estate private equity firm and operating company founded in 2002 and headquartered in the Washington, DC metropolitan area. Finesa specializes in the acquisition, redevelopment and management of commercial assets. Historically, the firm has operated along the East Coast and Mid-West regions of the United States, with focus on multifamily and retail properties. By launching DIP in 2012, Finesa is now expanding its footprint nationally and across all four commercial asset classes: multi-family, retail, office, and industrial/flex properties.

SOURCE Finesa Real Estate Group