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Full Service Real Estate Company DDG Partners LLC Announces Acquisition of Ground-Up Development Sites at 41-43 Bond Street

Posted on: Thursday, 10 September 2009, 10:50 CDT

NEW YORK, Sept. 10 /PRNewswire/ -- DDG Partners LLC, a fully integrated real estate investment and development company, announced today its acquisition of a vacant development site, comprised of two adjoining lots, at 41-43 Bond Street in New York City's NoHo Historic District for an undisclosed sum. With approved building plans and construction financing in place, DDG will commence construction of the $35 million, ten story, luxury condominium project by early October.

The property is the first in a series of middle market acquisitions DDG expects to close over the next 6-12 months. DDG is a full service real estate investment and development company that was formed in the Spring of 2009 to take advantage of opportunities in the real estate market. DDG's principals, Joe McMillan, JC Keeler, Chris Prokop and Peter Guthrie, have in excess of a combined 65 years of experience, and a diverse range of skills that offer significant competitive advantages in New York City real estate development.

DDG specializes in middle market opportunities where they can invest $10MM-25MM, across all property types, and is the exclusive real estate investment affiliate for a select group of high net worth family offices,.

"We have a range of complementary skills that cross almost all aspects of real estate investment, which we believe offer significant competitive advantages in today's turbulent marketplace," said Joe McMillan, Chief Executive Officer of DDG. "While we are tremendously excited about Bond Street, we also have a pipeline of projects that range from ground-up new construction, to partnering with existing lenders and developers on projects that are already underway. We're opportunistic, with in-house financial, development, construction, and legal expertise, which allows us to quickly analyze opportunities and respond aggressively where we see value," added McMillan.

About DDG Partners LLC

DDG is a fully integrated real estate investment and development company focused on the acquisition and development of real estate, and underlying equity, debt, or hybrid securities. DDG takes a value-oriented approach to real estate with an emphasis on opportunistic investing, whereby DDG can combine its extensive financial and development expertise with its in-house design and construction capabilities. Through a combination of thoughtful vision and superior execution, DDG has successfully implemented this strategy while producing above average risk adjusted returns for investors.

For more information please visit: www.ddgpartners.com

SOURCE DDG Partners LLC

Source: PR Newswire

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