Firm Sees Opportunities in Retail Power Centers
MILWAUKEE–(BUSINESS WIRE)–Marcus Investments announced today that it is formally launching its
first real estate fund, Marcus RE Fund I, LP, that will focus on retail
power centers in the greater Midwest. The firm seeks to raise $60MM from
other family offices, consultants, wealth managers and institutions.
Over the past eighteen months, the firm; through its internal real
estate division, Berengaria Development, has purchased in excess of
850,000 square feet of power centers totaling more than $125MM. The firm
targets properties which are considered “A” locations in “B/B+” markets
and have found this approach to be successful. Fundraising has already
commenced and is expected to conclude October 1st, 2019.
“We are very excited as a family office to be embarking on our next
phase of asset management. We feel the fund format will enhance our
ability to find even better value in the current retail environment
given our unique owner/operator approach to these assets,” said Chris
Nolte, President of Marcus Investments.
Jay Peirick, President of Berengaria, said, “Being able to have a
permanent pool of capital where we can be more opportunistic in the
space will help us drive better terms and value for our investors. We
feel the fund is well-timed given the opportunities we are seeing in the
market.”
Berengaria has developed and/or managed more than $500 million of retail
developments nationwide since its inception in 2008. The company’s team
of real estate and retail business experts is seeking to accelerate its
growth through its proactive, thoughtful and proven approach, with a
focus on acquiring retail centers. Prospective retail opportunities
should be sent to the attention of Bob DelGhingaro, Vice President of
Operations, at [email protected]
or (414) 585-8884.
Marcus Investments is a Midwest-based investment firm formed by the
Marcus family of Milwaukee to build and grow the next generation of
great companies in Wisconsin. The company focuses on long-term value
creation and looks to attract like-minded institutions and individuals.
Contacts
Tim Anderson, Managing Director
Marcus Investments
Phone:
414-585-8873
Email: [email protected]
