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Los Angeles-based real estate equity fund Hanover Financial Co. is up and running in Three Bellevue Center with plans to spend as much as $25 million on joint-venture commercial projects in the Northwest by next summer.

Hanover’s typical investment ranges from $500,000 to $5 million, but usually represents 80% to 100% of the total equity required to capitalize the investment. The company was founded about a year ago and is supported by the financial backing of Marcus & Millichap Co. Companywide, Hanover intends to make roughly $100 million in annual investments.

Brian Ward is the Hanover director in charge of its Northwest office. Ward practiced as a real estate lawyer in Seattle prior to leading the Seattle office of Chicago-based Heller Real Estate Finance. He worked most recently for General Motors Acceptance Corp. in Denver, before returning this month to open Hanover’s local office.

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