Marcus Partners Announces Final Closing of Fund II
Firm's Second Real Estate Fund Raises $250 Million
BOSTON, Oct. 29, 2014 /PRNewswire/ -- Marcus Partners, a value-oriented real estate investor, operator and redeveloper based in Boston, MA, today announced the final closing of its second real estate investment fund, Marcus Capital Partners Fund II (Fund II), with $250 million in capital commitments.
Fund II received capital commitments from a variety of large institutional investors, including a public pension plan, university endowments, and foundations as well as family offices and many investors who have invested with the team for nearly two decades. "We are grateful for the confidence that our investors place in us to prudently invest their capital," said Paul Marcus, Chief Executive Officer of Marcus Partners.
Consistent with its investment strategy for its Fund I, Marcus Partners will invest Fund II into a portfolio of office, medical office, biomedical, and light industrial properties primarily in major suburban East Coast markets where the firm has extensive experience. Fund II will take full advantage of the skills and experience of the Marcus Partners team to acquire assets with overlooked intrinsic value that can be unlocked through utilizing creative approaches to reposition or redevelop the assets.
Earlier this month, Marcus Partners announced the acquisition of 8 and 10 Wright Street, an office complex in Westport, CT, as the first investment in Fund II. Plans include a $4 million comprehensive renovation to transform the property into best-in-class office space. Together, the buildings contain approximately 84,000 square feet of office space uniquely located with sweeping views over the Saugatuck River and historic Westport Center.
ABOUT MARCUS PARTNERS
Marcus Partners is a value-oriented real estate investor, operator and redeveloper based in Boston, Massachusetts, with a regional office in Norwalk, Connecticut. The firm, which has 40 employees, invests in real estate and related assets through its fully discretionary $250 million Marcus Capital Partners Fund II, L.P., pursuing a mix of strategic and opportunistic investments. It currently owns/manages a diversified portfolio that includes more than 5 million square feet of office, medical office, R & D, warehouse and industrial properties located along the East Coast. For more information about Marcus Partners, please visit www.marcuspartners.com.
SOURCE Marcus Partners
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