BOSTON—Marcus Partners reports the final closing of its second investment fund—Marcus Capital Partners Fund II—with $250 million in capital commitments.
The locally-based real estate investor, operator and redeveloper says that capital commitments came from a variety of large institutional investors, including a public pension plan, university endowments, and foundations, as well as family offices and investors who have participated in ventures with the team for nearly two decades.
“We are grateful for the confidence that our investors place in us to prudently invest their capital,” says Paul Marcus, CEO of Marcus Partners.
Marcus Partners will invest Fund II into a portfolio of office, medical office, biomedical, and light industrial properties primarily in major suburban East Coast markets. The company also states that Fund II will “take full advantage of the skills and experience of the Marcus Partners team to acquire assets with overlooked intrinsic value that can be unlocked through utilizing creative approaches to reposition or redevelop the assets.”
Marcus Partners announced earlier this month the acquisition of 8 and 10 Wright Street, an office complex in Westport, CT, as the first investment in Fund II. Plans include a $4-million renovation to transform the 84,000-square-foot property into best-in-class office space.
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