NW1 Partners to close Urban Retail Venture with $175m aim

NW1 Partners is closing its NW1 Washington DC Urban Retail Venture with a target of $175m (£126m) of assets. The partnership with urban retail specialist Martin-Diamond Properties, which is sourcing new assets and running the day-to-day business of acquired assets, is currently assembling a portfolio of urban retail assets in the American capital.  To date, the venture has committed nearly one-third of its capital into acquiring 70,230 sq ft of property.  NW1, which was formed by David Boyle and Brad Beanblossom and is co-headquartered in London and Chicago, focuses on small cap real estate investments in areas overlooked by institutional investors.  It is supported and advised by Delancey founder and chief executive Jamie Ritblat and managing director Paul Goswell, who are both non-executive directors of NW1 and sit on its investment committee. To send feedback, e-mail Louise.Dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette