WILMINGTON, N.C., Oct. 9 /CNW/ -- Amici Group, a real estate private
equity and development firm, today announced it has entered into a definitive
agreement to acquire a 36-tract land portfolio totaling 22,000 acres in
Brunswick County, North Carolina, from International Paper, a Fortune 100
Company headquartered in Memphis. The first portion of the $70 million
transaction closed Friday, September 28, 2007.
Amici Group founder and principal, Donna M. Cote, is excited by the
growth potential in southeastern North Carolina: "The size and scope of this
transaction will allow Amici Group to play a major role in the continued
development of Brunswick County, which is the one of the fastest-growing areas
in the United States. It's a market we've been tracking carefully for over a
decade. We aim to be a thoughtful contributor to the area's expansion."
Amici Group has entered into a strategic partnership with investment
veteran Teresa Matsui Sanders to assess its investment and development
opportunities with respect to individual parcels within this portfolio. "We
have been analyzing the growth patterns of the southeastern U.S. for years,
and it is clear that Brunswick County will be a positive anchor for
southeastern North Carolina's continued growth and prosperity in both the near
and long term," said Sanders.
Amici Group, founded in 2006, comprises Amici Capital, a real estate
private equity fund, and Amici Development, a regional development firm based
in Wilmington, North Carolina, operating also in the Pacific Northwest. Amici
Development has multiple early-stage projects in its pipeline, including
several master planned communities in the coastal Carolinas and mixed used
projects in urban settings. Amici Group includes LEED(R) Accredited
Professionals whose experience includes development of environmentally
Prudential CRES Commercial Real Estate Partners represented Amici Group
in this transaction. Inquiries about the portfolio should be directed to John
Cavin or Paul Loukas at Prudential CRES at (910) 239-5864.
For further information:
For further information: Donna M. Cote, Amici Group, +1-910-509-7240,
firstname.lastname@example.org Web Site: http://www.amicigroup.com