MIAMI, March 31, 2021 /PRNewswire-PRWeb/ -- ARC Partners, a Miami-based private acquisition firm focused on real estate, continues to expand its portfolio with a $159 million acquisition of a mortgage judgment in Bushkill Falls, Pennsylvania. Highland Village, located in the Pocono Mountains, was adversely affected by the recession and faced foreclosure. The deal diversifies ARC Partner's portfolio, which includes investments in the United States, Panama, Colombia, India, Nigeria, and the Caribbean.
Highland Village has conditional approval for 5,318 mixed-density residential units, a retail master plan, and an 18-hole golf course. It consists of 2,335 acres of land and two separate fifty-acre lakes.
"ARC Partners is growing in new ways," stated John Olsen, managing partner of ARC Partners. "Highland Village is an exciting next step and presents many opportunities in a market that has changed drastically – and in some ways, permanently – due to the pandemic."
ARC Partners will determine the direction of the project post-foreclosure. Options include selling Highland Village, or establishing a joint venture structure with a national home builder. ARC is currently in discussion with a development team.
"This is an attractive – and timely – acquisition," added Mr. Olsen. "The pandemic shifted buyers' interest as they relocated from New York City. Highland Village suits drastic market changes, but it is still advantageously close to New York. It's a 'best of both worlds' scenario."
Last year, ARC Partners made headlines with the acquisition of W Hotel Bogota, completed alongside South Florida-based Ithaca Capital. The transaction served as a continuation of ARC's interest in Central and South America. The company, which has historically concentrated on first-lien and second-lien mortgages for commercial and residential assets, continues to pursue opportunities worldwide.
For more information, or to schedule an interview, please contact Meieli Sawyer at 305-668-0070 or [email protected].
About ARC Partners
ARC is a private equity company run by John Olsen and David Gordon. With a flexible approach to investing, the company concentrates on nontraditional asset classes, as well as first- and second-lien mortgages for commercial and residential assets. ARC Partners is headquartered in Miami, Florida, and also has a team located in Panama City, Panama.
Media Contact
Meieli Sawyer, The Weinbach Group, 305-668-0070, [email protected]
SOURCE ARC Partners
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