In 2002, American Landmark Properties purchased a 32-building portfolio for $190,000,000. The buildings totaled approximately 4 million square feet and were located in Upstate New York, Eastern Pennsylvania, and Ohio. In addition to the acquisition and syndication, American Landmark Properties managed and leased this portfolio. Following the stabilization of the individual assets, the majority of the portfolio was sold – in each case, at a profit. Despite the ongoing challenging market conditions in Syracuse, in January 2020, American Landmark successfully negotiated a sale of the last three office buildings in this portfolio for $15,000,000. Overall, this resulted in a 1.6x equity multiple for investors in this portfolio.