Namdar Realty Group and Mason Asset Management have announced a comprehensive redevelopment plan for 2024. This ambitious initiative covers 1,500 acres in 17 states, with an emphasis on revitalizing 40 properties and developing eight pending deals. The project also includes the potential for self-storage opportunities across 25 locations.
The companies’ approach involves utilizing their all-cash position to maximize flexibility in determining the best use for each property. This ensures value for the community while promoting long-term viability. Upon completion, this effort will introduce over two thousand multifamily units, along with significant square footage of self-storage and industrial warehouse space spread across a total of one hundred three acres.
According to Dan Dilmanian, COO of Namdar Realty Group: “We are currently focused on workforce housing and active adult (55+) communities as well as converting out parcels into self-storage facilities.” He adds that demand varies by market but remains open to all types of redevelopment opportunities identified by these properties.
This announcement marks an exciting new chapter in Namdar’s partnership with Mason Asset Management.
