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DALLAS-In an effort to take advantage of distressed and other assets in the market, locally based Encore Enterprises Inc. has set up Encore Capital LLC, which is headed up by Donna Arp. Arp is also overseeing the $150 million Encore Opportunity Fund II, which closed in June 2009.

Arp tells GlobeSt.com that previous to the formation of Encore Capital LLC, financing for acquisitions was handled by the parent company and its president and CEO Patrick Barber. However, “Encore had grown so much, and with the additional task of raising $150 million in funds this year and investors we wanted to take care of, Encore Enterprises felt Encore Capital was a good way to do that,” Arp remarks.

Arp says the fund carries a “green shoe” option up to $250 million, which will close during Q4. The fund’s target is distressed real estate and notes. Arp says retail hospitality and multifamily are likely investments, and Encore Capital isn’t adverse to joint ventures when it comes to investments.

Arp comes to Encore Capital from Realty Capital Partners in Colleyville, TX and says she’d been impressed with Encore Enterprises as far back as 2004. “I did a deal with Encore back then; Encore was one of the best sponsors I ever worked with,” she comments. “They made our investors a tremendous return.”

She says Encore Enterprises’ move to sell its portfolio in 2007 was a wise move. “I felt like this was a place where investors would be able to profit from a good track record,” she adds. “I wanted to come on board and offer those investors great sponsors and opportunities.”

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