Chesapeake Real Estate Group (CREG) has recently announced the launch of a new long-term investment platform, expanding its focus to include industrial, flex/office, single-story commercial office, and retail assets. The company has appointed Gene Parker as president and Jim Lighthizer as Chief Executive Officer.
Over the next five years, CREG aims to significantly expand its portfolio in the Mid-Atlantic region by targeting value-add properties with acquisitions ranging from $3 million to $20 million. In pursuit of this goal, CREG has formed a joint venture with Rick Wuest – CEO of Thompson Creek Window Company – and has already acquired three properties worth over $20 million.
According to Parker: “CREG stands out for its unique access to internal capital resources that provide us with an unlimited investment horizon and certainty in closing deals. Our strategy is focused on acquiring properties at price points that are typically overlooked by institutional investors.” Some notable projects in CREG’s current portfolio include Nottingham Logistics Center and Baltimore Crossroads @95.
The announcement marks an exciting development for CREG’s growth plans as it continues expanding into new markets through strategic investments.
