Recently, Acquisition Group hit headlines for buying the downtown Raleigh headquarters for $22M. Acquisition Group, a California-based investment firm, has been consistent in their efforts to acquire more assets and invest in lucrative business opportunities, thanks to the leadership of Sam Sotoodeh. Sam Sotoodeh is the President of Acquisition Group, an investment firm which has invested heavily in real estate, securities, oil and gas across the world.
Acquisition group also owns Two Hanover Square located in Raleigh and its investment success can be attributed to the firm’s capable investment team consisting of Sam Sotoodeh, Craig Shimomura as well as Tim Nelson. The acquisition of The News & Observer’s building is a big milestone for the firm and according to the firm’s president, it will be used to develop a mixed-use complex containing housing and a hotel, office spaces and stores.
In a statement, Sotoodeh said that he has been looking to buy the building for the last 30 years and because of one reason or another, he was not successful. Therefore, the venture is a big deal for the firm. Sotoodeh said that they believe in Raleigh and described it as a city with many growth opportunities. He continued to say that his firm will combine efforts with local authorities and residents to come up with a project which will benefit everyone. The rebuilding of N&O’s building was scheduled to start after the news firm moved out. Sam Sotoodeh said that the deal was made possible through the partnership with Capital Associates.
The News & Observer could use the proceeds to pay off its debts or reinvest back to the business. It had planned to move its operations to One City Plaza. According to Sara Glines, the firm’s President and Publisher, that was the right move to make as it looked to be rooted deep in Raleigh and make Raleigh its center of things.
Sam Sotoodeh has deep knowledge in international business development and he leads the investment firm’s operation in South America, Europe and North America. He graduated with an Economics degree from California State University, Fullerton. Later, he earned his MBA in Cornell Johnson Graduate School of Management. He also went to Northwestern University, School of Management for his Post-graduate study.
Sam Sotoodeh’s: Linkedin.