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Company History
2002 - High Street Equity Advisors, LLC was founded in Boston, Massachusetts by veterans of the real estate industry who wanted to establish a private equity real estate company that was both entrepreneurial and conservative in its investment approach. With over 100 years of combined real estate investment and management experience, the founders sought to create a conservatively leveraged investment vehicle focused on both income and appreciation, and characterized by current cash yields, capable risk management, an intensive portfolio and asset focus, and value creation.
2003 - High Street completes its first equity raise in December 2003 and launches High Street Real Estate Fund I, an investment fund focused primarily on institutional quality industrial assets located in the eastern half of the United States. The capital commitments of investors in Fund I totaled $73 million. Selectively targeting industrial assets which presented the opportunity for a significant cash return and appreciation, Fund I acquired 19 properties in 8 markets between March 2004 and November 2005 for an initial purchase price of $213 million.
2005 - High Street completes its second equity raise and launches High Street Real Estate Fund II in December 2005, its second industrial investment fund. The capital commitments of investors in Fund II totaled $112 million. Between December 2005 and July 2007, Fund II closed on 27 transactions in 11 markets for an initial purchase price of $344 million.
2007 - High Street, building on its track record established with Funds I and II, launches Fund III, its third industrial investment fund. The capital commitments of investors in Fund III total $250 million and consist primarily of US and non-US institutional investors. Through June 30, 2010, Fund III has acquired (or is under agreement to acquire) 46 properties in 9 markets for an initial purchase price of $306 million. When fully invested (assuming a 50-55% loan-to-value ratio), High Street expects Fund III to have a total capitalization of approximately $400 million.
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