Berkeley Investments Co-Founder Launches Real Estate Investment Firm

"This is a very interesting time for the real estate investment community. Rents are down and vacancy is near historic high. Due to confluence of these and other demographic and economic factors, including extremely low interest rates and the volatile stock market, large and small equity investors are broadly diversifying into real estate," says Fenton, who will be the president and CEO of Essex River Ventures. "Real estate once again is being recognized as a stable asset class with strong income-producing attributes. It's a great time to be raising money for real estate."

Fenton says his firm will focus on the acquisitions and management of office, research and development and industrial properties in at least five strategic markets in the Northeast, mid-Atlantic and Southeast and a managed real estate portfolio of five million sf by June 2005. The value-based investments will be in the $5 million to $15 million range. Fenton notes that the primary investment vehicle for Essex River Ventures will be a closed end fund structured for high net worth investors.

"We will capitalize on long-term investment trends and capital market inefficiencies in the commercial real estate market. Our goal is to invest and manage equity for enhanced returns by targeting value based investments," says Robert King who is joining Essex River Ventures as chief investment officer. "We plan to serve the real estate allocations of both institutional capital and private equity investors by providing a shared connection into targeted real estate markets."