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RICHMOND, VA-Locally-based Rogers Realty Advisors, which provides investment banking, asset management, and real estate advisory services, has entered into two joint ventures that will expand its repertoire to development.

The firm has formed partnerships with JDH Capital and Bellkor Realty Group: respectively, a developer focused on grocery store anchored neighborhood shopping centers in the Mid-Atlantic and southern states, and a developer that specializes in undervalued multifamily properties with an emphasis on property sourcing, construction management, leasing, and property management. Bellkor is also affiliated with Old Homes. These are the firm’s first two JVs, Louis Rogers, CEO Rogers Realty Advisors, tells GlobeSt.com. Rogers was president of what was once Triple Net Properties in 2004. He left the firm shortly before its merger with Grubb & Ellis to establish his own company. “We have several discussions under way with other potential JV partners,” he says.

The company, meanwhile, is well on its way to leveraging its first partnerships. Rogers says the company is working on several projects that have roughly a capital investment of $10 million each. Specifically, he says, “we are working on about five projects with each partner that has a projected value of $10 million.” For the first few years of its existence, Rogers Realty acted primarily as advisor to, and manager of, Spectrum Realty Mezzanine Fund I, Rogers Realty Mezzanine Fund II, and Rogers Realty Growth & Income Fund I–private investment funds providing debt and equity capital for real estate projects. Other projects included assists with difficult capital issues, including recapitalizations, acquisitions and dispositions.

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