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  6. The Praedium Group Acquires Beverly Crossing

M&A Deal Summary

The Praedium Group Acquires Beverly Crossing

On February 3, 2025, private equity real estate The Praedium Group acquired real estate company Beverly Crossing

Acquisition Highlights
  • This is The Praedium Group’s 2nd transaction in the Real Estate sector.
  • This is The Praedium Group’s 2nd transaction in the United States.
  • This is The Praedium Group’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2025-02-03
Target Beverly Crossing
Sector Real Estate
Buyer(s) The Praedium Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Beverly Crossing

Beverly, Massachusetts, United States
Beverly Crossing is a real estate development group that operates residential communities that offer urban-style amenities, proximity to the ocean, and a friendly, small-scale urban feel. Beverly Crossing is based in Beverly, Massachusetts.

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Buyer(S) 1

Buyer

The Praedium Group

New York, New York, United States

Investor Investor Investor Investor

Category Private Equity Real Estate
Founded 1991
Size Small
Type Sector Focused
DESCRIPTION

The Praedium Group is a real estate investor focused on underperforming and undervalued assets throughout North America. Praedium pursues 'middle-market assets with a total cost of less than $75 million' each and focuses on 'value enhancement' opportunities. Praedium considers investments in all types of real estate assets including office, retail, residential, industrial and mixed use. Investments are sometimes made in conjunction with local operating partners who are experts in their respective markets. Generally, these operating partners also invest side-by-side with the firm. The Praedium Group was formed in 1991 and is based in New York City.

DEAL STATS #
Overall 2 of 3
Sector: Real Estate M&A 2 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 3
State: Massachusetts M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-19 Legacy On The Promenade

Westminster, Colorado, United States

Legacy On The Promenade is comprised of an elevatored 4-story building with interior conditioned hallways and a 6-level central parking garage. In addition, there are 24 townhome units with attached 2-car garages. One-, two- and three-bedroom units range from 641 SF to 1,888 SF and include features such as 9 ft to 20 ft ceilings, lakefront views, granite countertops, and stainless-steel appliances. Community amenities include an outdoor lounge, pool and spa, outdoor grill and fire pit station, an expansive two-story fitness center with a spin and yoga studio, and resident clubhouse and game room. Legacy On The Promenade is based in Westminster, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-16 Pearl Woodlake

Houston, Texas, United States

Pearl Woodlake is a 376-unit multifamily community comprising elevator-served, four-story apartment buildings with air-conditioned corridors and a structured garage parking facility. Pearl Woodlake was founded in 2016 and is based in Houston, Texas.

Buy -
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