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Latest News

GlobeSt.com: Bozzuto Eyes Active Multifamily Pipeline for Pritzker Fund

August 16, 2010

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Abdo Development and the Bozzuto Group will be co-developing a mixed-used project in Catholic University of America’s South Campus. A $200-million project when all the phases are complete, it will be the first project funded under the $75-million fund that Bozzuto, helmed by CEO Tom Bozzuto, and Pritzker Realty Group announced earlier this summer.

That fund, levered, will have more than $300 million in purchasing power, Toby Bozzuto tells GlobeSt.com.… Continue reading

Multifamily Executive: Facebook Drives Eyeballs and Purse Strings

August 09, 2010

When looking for a place to live, it’s often best to enlist a little help from a trusted friend. Or maybe 500 of them.

An April report by consumer research firm Nielsen found that 70 percent of people would trust consumer opinions posted online. Apartment communities have taken that to heart and are using next-generation social technologies as a marketing tool as well. ForRent.com is one company using social media sites such as Facebook, Twitter, and MySpace… Continue reading

Washington Post: In Forming Joint Venture, Bozzuto Shows He's Bullish on Apartments

August 02, 2010

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Is Tom Bozzuto betting against the housing market? His Bozzuto Group, based in Greenbelt, announced last week the formation of its newest fund, a $75 million joint venture with Chicago-based Pritzker Realty Group, which will allow the company to acquire or develop hundreds of apartments in the mid-Atlantic region, particularly in the Washington area.

Bozzuto, the company's chief executive, plans to focus mainly on development of new homes,… Continue reading

Multi-Housing News: Leasing - There’s an App for That

August 02, 2010

Shortly after the introduction of Apple’s iPad, Steve Lefkovits called the president of a 5,000-unit property management firm. The Emeryville, Calif.-based executive producer of the Apartment Internet Marketing (AIM) Conference wanted to know what his friend thought of the new applications.

“I was surprised he didn’t sound more enthusiastic,” Lefkovits recalls. He said, ‘Yeah, the applications are okay, but we’re already building our own. And it should be ready next week.’”… Continue reading

Multifamily Executive: Washington, D.C., Market Ramps Up for New Development

July 29, 2010

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Pritzker Realty, Bozzuto Group help kick off the resurgence with $75 million joint venture.

After months of little to no activity, multifamily development in the nation’s capital is seeing the beginnings of a quiet resurgence.

Hoping to lead the way: Chicago-based real estate investment firm Pritzker Realty Group and Greenbelt, Md.-based developer and manager The Bozzuto Group. Earlier this week, the firms announced the creation of a joint venture… Continue reading

Real Estate Bisnow: Bozzuto's Biggest Deal

July 28, 2010

In its nearly quarter century, Bozzuto Group has developed 25,000 apartments and bought 5,000 others, often via joint ventures with the blue-chip likes of JP Morgan, Northwestern Mutual, CIGNA, and the New York State Teachers' Retirement System. But yesterday it announced its biggest yet: a $75 million equity war chest into which it’s contributing but with the majority funded by Chicago icon Penny Pritzker and unveiled as the Bozzuto/Pritzker Realty Group fund.

Continue reading

GlobeSt.com: Pritzker, Bozzuto Join for $75M Apartment Venture

July 28, 2010

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CHICAGO-Pritzker Realty Group, based here, and Greenbelt, MD-based Bozzuto Group have formed a joint venture to develop and buy apartments in the Northeast and Mid-Atlantic regions. The initial investment is $75 million.

The venture has already been working to line up property, primarily class A buildings for purchase and mixed-use, transit-orientated sites for development, says Tom Bozzuto, CEO. “We have four-to-five properties in our pipeline that we will soon be… Continue reading

Washington Business Journal: Bozzuto Group Forms $75 Million Joint Venture with Pritzker Realty Group

July 27, 2010

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Greenbelt-based The Bozzuto Group is teaming up with Pritzker Realty Group LLC of Chicago to invest in multifamily housing. The two companies said Tuesday that they would commit $75 million in initial capital to the joint venture.

The Bozzuto/Pritzker Realty Group partnership will look for multifamily development and acquisition opportunities in high-growth locations throughout the mid-Atlantic and Northeast regions, with… Continue reading

Baltimore Business Journal: Bozzuto, Pritzker Realty Form $75M Joint Venture

July 27, 2010

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The Bozzuto Group is teaming with Pritzker Realty Group on a new $75 million investment fund to develop and buy apartment complexes, primarily in the Baltimore-Washington region.

Bozzuto Group CEO Tom Bozzuto said the joint venture already has six target development opportunities in Baltimore, Washington and in between, on its radar, but he wouldn’t disclose specific locations. The investment fund will also seek opportunities in the Northeast.

“We… Continue reading

The Daily Record: Bozzuto, Pritzker in Joint Venture

July 27, 2010

Two developers have joined forces to form a $75 million investment fund to construct and acquire apartment building projects in the Baltimore-Washington corridor.

The Bozzuto Group of Greenbelt and the Pritzker Realty Group of Chicago said Tuesday they were creating a joint venture to build and acquire large rental properties in the region. The work is to begin immediately, said Toby Bozzuto, president of the Bozzuto Group.

“I think we are at the center of gravity in many… Continue reading