Trion Properties Launches First Fund

Mitch Paskover is the co-founder and managing partner of Trion Properties.

LOS ANGELES—Trion Properties has launched its first investment fund. The $30 million fund will deploy $100 million capital, targeting multifamily value-add investments in four core West Coast markets: Los Angeles, San Diego, the bay area and Portland. The fund will purchase individual assets for $5 million to $20 million, and spend an additional $10,000 to $15,000 per unit on renovations.

“In order for a company like ours to have a fund, you need to have a number of years of experience, and I think we have hit a point now as a company where we have bought and renovated a number of deals and sold them,” Mitch Paskover, the firm’s co-founder and managing partner, tells GlobeSt.com. “So, we have a good track record to show that we have made money for our investors and have hit our targets. Now, we have decided to launch a $30 million fund that will have the ability to purchase $100 million worth of properties. We are going to target, like we always do, value-add multifamily in the four to five market markets that we have been targeting since day one.”