Procopio Represented Strata Equity Group in $720M Acquisition of 24-Property Portfolio in Four States

San Diego, CA, November 4, 2016 (Newswire.com) - Procopio represented Strata Equity Group (Strata), a San Diego-based real estate investment firm, in its recent acquisition of 24 institutional grade multifamily communities comprising 6,294 residential units in Georgia, Tennessee, North Carolina, and South Carolina. The seller was advised by New York-based DRA Advisors, LLC.  Mortgage financing was provided by CBRE placing Freddie Mac/CME debt. 

“We are proud to partner with Strata on this acquisition that both raises their national presence and drives their investment initiatives,” said Robert Brown, Procopio Partner and lead counsel to Strata. “We are pleased to have assisted our client with this strategic and expansive acquisition.”

"Bob and his team were on-point every step of the way, delivering exceptional service in managing this large transaction and all of its intricacies. Their resourcefulness, combined with their experience, was essential in helping us execute this agreement swiftly and effectively."

David Michan, President of Strata Equity Group

“Ours was a complex deal involving multiple states and 24 different properties that we could not have undertaken on our own,” said David Michan, President of Strata Equity Group. “Bob and his team were on-point every step of the way, delivering exceptional service in managing this large transaction and all of its intricacies. Their resourcefulness, combined with their experience, was essential in helping us execute this agreement swiftly and effectively.”

The Procopio legal team included Robert Brown, Amy Cannon, David Jones, John Lee, and Ashley Stecher.

About Procopio

Procopio is a full-service business and litigation law firm committed to thoughtful problem solving and improving your bottom line.  With more than 150 attorneys based in San Diego, Silicon Valley, Phoenix and Austin–we’re passionate about knowing your business and helping you grow and protect it for the long term.  Procopio has the flexible infrastructure to support both small to mid-sized companies and large multinationals at every stage of the business life cycle.  Our global reach across Asia and Latin America further expands our international partnerships and cross border capabilities.  At Procopio, we are focused on what is important to you–providing smart, innovative and practical solutions in a cost-effective manner to help your business thrive.  Learn more at Procopio.com.

Media Contact:  Angela Giombetti
Communications and Public Relations Manager
Phone:  619.906.5740
Email: [email protected]

Source: Procopio, Cory, Hargreaves & Savitch LLP