The Southeastern Investment Fund will be in conjunction withCrosland's corporate capital investments, giving the locally baseddeveloper the ability to pursue large-scale, longer-rangedevelopments, according to a company statement. The fund will focuson all the major food groups, particularly multi- and mixed-useprojects with residential, retail and office. A Crosland spokesmancould not be reached by GlobeSt.com's deadline.

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The land deals will target primarily urban infill redevelopmentand outlying growth corridors, Crosland execs add, citing thecompany's 35-acre, $200-million-plus South Boulevardtransit-oriented development as one project which will benefit fromthe Southeastern Investment Fund. Another areas in fund's sights isNashville, where Crosland has two infill projects under way,theTerrazzo and Griffin Plaza.

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"Through the decades, one of Crosland's competitive advantageshas been our private funding," Todd Mansfield, chairman and CEO ofCrosland, says in a statement. "Historically, this allowed us toinvest in communities with an emphasis on long-term value creationover short-term returns. The Southeastern Investment Fund allows usto strengthen this advantage, while also broadening our reach andexpanding our development pipeline."

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Jamie Dunn, Crsoland's vice president of investments, and PerryReader, Florida division president, will manage the fund. "Thisfund will facilitate Crosland's continued growth by allowingearlier-stage land control and capacity for larger-scale projects,"Dunn explains. "Our partnership with Northwestern Mutual enables usto get out ahead of the development curve and positions us to morepositively impact the communities in which we do business."

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M3 Capital Partners LLC served as the exclusive financialadvisor to Crosland.

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