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 bobd@berengariadevelopment.com 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.