the real estate arm of Milwaukee-based Marcus Investments LLC,
announced this week the launch of its second real estate fund.
Marcus RE Fund II, LP, has a funding goal of $100 million. The fund will continue Marquee Capital’s strategy of acquiring retail shopping centers throughout the Midwest, but will also focus on senior housing and other “opportunistic” real estate plays, according to a press release from the firm.
Marquee Capital was formerly known as Berengaria Development.
The firm actively invests in Midwestern multi-tenant retail shopping centers, known as retail “power centers.” Grafton Commons, which Berengaria purchased for $33.5 million
in 2018, is the only local power center the firm owns. It also owns Terova Senior Living Community in Mequon.
“Having successfully deployed the vast majority of capital from our inaugural fund along with significant co-investment capital, we are now ready to embark on our second fund,” said Jay Peirick,
managing partner of Marquee Capital. “Marcus RE Fund II, LP will include similar type retail power centers as Marcus RE Fund I, LP but also include seniors housing and opportunistic investments to provide greater overall diversity to our investors. Combined, these asset types will provide stable current cash flow, along with extreme value-add opportunities in seniors housing. We feel this fund is again well-timed given the opportunities we are seeing currently and those we anticipate to see in the near future due to the various macroeconomic influences.”
Marcus RE Fund I, LP raised at least $16 million from 31 investors, according to a filing with the Securities and Exchange Commission.
Marquee Capital has over $300 million in current assets under management, over $700 million in total transactions, 1.85 million square feet of retail assets managed and 540 senior housing units.