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The joint venture is targeting the middle-market demographic in the US Sun Belt.

The fund is designed to invest in technologies that address decarbonization across the real estate ecosystem.

The joint venture also makes its first investment.

Parador is a 168-unit property built by Resmark on behalf of one of its managed funds.

The firm acquired the 52-unit property in 2015 and renovated it while preserving its historical integrity.

One Town Center is a 10-story, 191,000-square-foot office tower with 95% occupancy and strong in-place cash flow.

Madison Realty Capital provided the funding, which will be used for a renovation and repositioning plan.

The combined company will have 185 open-air shopping centers comprising approximately 32 million square feet of owned gross leasable area.