Marcus Investments raising $60 million real estate fund

Capital to be allocated to retail power centers

Grafton Commons

Last updated on June 26th, 2019 at 04:30 pm

Milwaukee-based family office Marcus Investments LLC plans to raise $60 million for a new real estate fund.

Marcus RE Fund I LP is Marcus Investments’ first real estate fund, and will focus specifically on retail “power centers” in the Midwest. The company plans to raise the capital from other family offices, consultants, wealth managers and institutions, according to an announcement. The fund is expected to close on Oct. 1.

“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.

Marcus Investments is the Marcus family’s investment firm. Its real estate division, Berengaria Development, actively invests in power centers, having added 850,000 square feet worth $125 million to its portfolio over the past 18 months, including Grafton Commons.

“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,” said Jay Peirick, president of Berengaria.

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Molly Dill, former BizTimes Milwaukee managing editor.

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