Taconic, Prusik Target NE Retail Properties

NEW YORK CITY-Taconic Investment Partners has entered a joint venture with the Prusik Group to acquire retail properties in the Tri-State area. The locally-based companies are targeting investments in the $50-million to $200-million range and have not yet identified any specific centers for purchase, a source close to the deal tells GlobeSt.com.

The firms are looking at buying urban and suburban assets within a 75-mile radius of Manhattan. Executives of both companies are also highly considering value-added centers and those located in brownfields.

Prusik was founded earlier this year by S. Andrew Katz, formerly of Blumenfeld Development Group, and Rohan Mehra, a former Forest City Ratner executive. Their experience includes the acquisition and development of 2.5-million sf of commercial and residential properties. “We’re interested in situations where value can be enhanced with the right skills and careful investment,” says Katz.

Taconic, founded in 1997, has acquired and developed more than one million sf of property. The firm also owns 2,500 apartments in Brooklyn and the Bronx. “With our primary focus continuing to be on office and residential properties, we’re very pleased to move forward into retail with the benefit of their experience in this vital, growing sector,” says Charles Bendit, Taconic’s co-founder.