LRG Capital Real Estate Partners plans to launch a new fund targeting institutional investors.
The firm has just closed its real estate fund, LRG Real Estate Partners Fund I (LRGREP I), which is for new investors. The LRGREP I portfolio comprises eight quality office, mixed-use and multifamily properties.
The new fund, which is called LRG Capital Real Estate Partners Fund II, will be larger and will also consider larger properties.
LRG Capital will be applying the fundamental principles it used in fund I to the second real estate investment fund, which include in-house management, prudent and careful diligence as well as the leveraging of the firm's local market knowledge.
"LRG Real Estate Partners II Fund will mirror the successful strategy employed for our prior fund," CEO Larry Goldfarb said. "We will continue to seek investments in which we add value though a direct operating platform and various other strategies."
