Shorenstein Investment Partners LLC, which closed in late fall, is its fifth, and largest, investment fund.
Capital is spotty, which presents more acquisition opportunities.
That's a far cry from the company's attitude going back almost four years. Our strategy became not to be a net buyer but to actually be a net seller. So we sold quite a bit to the REIT community. By mid-1998, its portfolio had been reduced by about 5 million square feet to 20 million square feet. But by the middle of 1998, the real estate capital markets melted down and acquisition-hungry REITs were on the retreat.