May 17, 2019
Milwaukee-based Marcus Investments launched 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 $60 million from other family offices, consultants, wealth managers and institutions.
Marcus Investments’ Chris Nolte says, “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.”
Over the past 18 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 $125 million. The firm targets properties which are considered A locations in B/B+ markets, and has found this approach to be successful. Fundraising has already commenced and is expected to conclude October 1.
*Pictured Kohls Grafton, WI
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