Marcus Partners is pleased to announce that a newly formed venture between NJ based Mountain Development Corp, together with ClearRock Properties, and MA based Marcus Capital Partners Fund I has acquired 297 State Street, a 386,000 square foot light industrial/warehouse facility in North Haven, CT which was formerly owned and occupied by a national printing company.

The property is strategically located in North Haven, CT just off I-91 at exit 10/Route 40. The 386,000 square foot building has interior rail siding, can be subdivided down to 76,000 and offers clear heights of up to 36’. The property will undergo a capital improvement program to bring it up to contemporary standards. The leasing team of Tim Fegan and Matt O’Hare at CB Richard Ellis has been retained to lease the property.

David Fiore, Principal of Marcus Partners, said “We look forward to working with Mountain Development to reposition this asset. This transaction fits in well with our investment strategy of acquiring quality, well located, value-add properties at a reasonable basis. We will continue to seek additional direct and venture investment opportunities in New York, New Jersey and Connecticut markets as we look to expand our New York Metro region or tri-state portfolio.” “We look forward to working with Marcus Partners as our financial partner and are excited to have this asset in our portfolio. We are also looking forward to completing the major capital improvements we have planned for the property and to working with the brokerage community to satisfy their tenant requirements,” said Joseph Coci III, Managing Director of Mountain Development Corp.

Sean Duffy and Damon Bower of Cushman & Wakefield represented the seller while Tim Fegan and Matt O’Hare of CB Richard Ellis represented the Buyer.

Clarion Partners announced today that, on behalf of one of its pension fund clients, it has acquired the minority interest of its partner of over 15 years, Fairfield Investors, in Merritt 7 Corporate Park, one of the leading office parks in Fairfield County with over 1.4 million square foot, in six building Class A office buildings strategically located at the intersection of the Merritt Parkway and Route 7 in Norwalk, Connecticut. Bert Phelps, the managing principal of Fairfield Investors whose vision resulted in the original development of Merritt 7, announced that he will retire from his position as Chairman of ADP Service Corporation. John Crosby, President, will assume that role and continue to lead the company with a renewed focus on the growth of its construction management business. As a result, Clarion Partners has announced that it has formed a strategic partnership with Marcus Partners which provides in part for a subsidiary of Marcus Partners to assume property management and leasing services at Merritt 7.

Katie Vaz, Vice President of Clarion Partners, who will continue to lead the firm’s Merritt 7 asset management team, noted “Clarion Partners has enjoyed a successful partnership with Mr. Phelps and John Crosby for over 15 years on this premier Fairfield County office asset. We wish Mr. Phelps well and look forward to the prospect of continuing to work with Mr. Crosby on construction related projects going forward. By teaming with Marcus Partners, we are confident we are well-positioned for the future in providing the finest office environment available in the market at Merritt 7.”

“Over the past 10 years, the major growth corridor in Fairfield County has been the Route 7 corridor – a market that Mr. Phelps and Mr. Crosby created with Merritt 7 during the 1970s and 1980s”, noted David Fiore, Principal and head of Marcus Partners’ operations in Connecticut. “The opportunity to partner with Clarion in maintaining and enhancing Merritt 7’s position as one of the premier suburban office parks in Fairfield County is very exciting for the Marcus Partner’s team.”

Marcus Partners is pleased to announce the acquisition of the Corporate Forum in Atlanta, GA. Marcus, together with local partner Ackerman & Co., purchased Corporate Forum for $7.2MM from CW Capital. This is the second acquisition this year for Marcus and Ackerman, who also bought the Marietta Medical Center in January.

Corporate Forum is a twelve acre complex of six campus style office buildings on Windy Hill road, just off Interstate 75. The six buildings comprise 188,100 square feet and were originally constructed in 1981. Occupancy currently is approximately 72%. Ackerman will handle property management and leasing. Hunter Amos at State Bank provided acquisition financing. Justin Parsonnet, Will Yowell and Jay O’Meara of CBRE represented the seller and brokered the transaction.

This deal is indicative of the gradual recovery taking place in the office market as lenders are increasingly willing to address problems, foreclose on properties, and take them to market.

Marcus Partners and Ackerman & Co. are pleased to announce the acquisition of Marietta Medical Center, a 98,534 square foot medical office building in Marietta, Georgia. The property was acquired in a joint venture between Boston based Marcus Capital Partners Fund I, a $250M commingled real estate fund, and Atlanta based Ackerman & Co.

This Class A property consists of a five-story medical office building and an attached structured parking garage strategically located adjacent to WellStar Kennestone Hospital, the second largest hospital in metro Atlanta. “Marietta Medical Center is a good property that has enjoyed high occupancy for most of its life. Although currently 53% occupied, we are confident our local operating expertise and well funded new ownership with capital to fund lease commissions, tenant improvements, and planned renovations will enable us to attract new tenants to fill the vacancy. The medical office market around WellStar Kennestone Hospital is growing rapidly and we are excited to work with Marcus Partners in the execution of our upgrade and re-leasing strategy.” said Kris Miller, President of Ackerman & Co.

Paul Marcus, President of Marcus Partners, said “This transaction fits in perfectly with our investment strategy of acquiring good quality, well located, value-add commercial properties at a discount to replacement cost. We continue to seek additional acquisitions in other key East Coast markets with a similar strategy.”

Marcus Partners is pleased to announce the acquisition of a 394,000 square foot mixed use facility in Miami Lakes, Florida which was formerly occupied by Cordis Corporation. The property was acquired in a joint venture between Boston based Marcus Capital Partners Fund I, a $250M commingled fund, and Miami based, The Easton Group.

This mixed use complex includes eleven buildings spread out over 27 acres and houses advanced laboratories, clean rooms, air-conditioned warehouse, office and retail space. The venture is also pleased to announce that Heartware International (NASDAQ; HTWR), a leading manufacturer of a left ventricle heart assist pump and headquartered in Framingham, MA, has signed a ten-year lease for more than 130,000 square feet at the facility. Cordis, a division of Johnson & Johnson, will remain in a portion of the facility for at least a year.

Paul Marcus, President of Marcus Partners, said “This transaction fits in perfectly with our investment strategy of acquiring good quality, well located, value-add commercial properties at a reasonable basis. The deal with the Easton Group illustrates the success we are finding in investing with local operating partners. We expect to be announcing soon at least two more acquisitions in other key East Coast markets with a similar theme: good quality, well located, value-add commercial properties acquired through joint ventures with local partners. Even though we have a reputation as being strong operators, we are seeking to team up with, and strongly value, local operating partners – even in the markets we already have a presence in. We believe this leverages our ability to acquire and turn properties around, enhances our knowledge base, as well as provides a more substantial platform to identify new opportunies.”

Verizon has signed a 200,000 square foot, 10-year lease at the Reservoir Woods East Campus in Waltham, Mass. The transaction includes extending an existing lease for 140,000 square foot and the build out of an additional 60,000 square feet of new Class A office and lab space, which will become the Verizon Technology Innovation Center.

Construction of the Verizon Technology Innovation Center is slated to begin in the coming months and the new building will be developed to LEED Silver standards of the United States Green Building Council (USGBC).

Andrew Majewski from CB Richard Ellis represented Davis Marcus Partners in the transaction and David Wright and Amy Perlman, also of CB Richard Ellis represented Verizon. Reservoir Woods is owned by a venture between affiliates of Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI) on behalf of institutional investors.

Reservoir Woods East is a 54-acre office/research and development property purchased by Davis Marcus Partners in partnership with Prudential Real Estate Investors in December 2006. Together, Reservoir Woods East and West comprise a 120-acre wooded campus. Centrally located between the Mass Turnpike and Route, 2, Reservoir Woods is surrounded by the corporate headquarters for Raytheon Corporation, the Massachusetts Medical Society, and the North American Discovery Center for Astra Pharmaceuticals..

Dick Lynch, Verizon executive vice president and chief technology officer, said, "Verizon reviewed many market alternatives as we thought about this expansion and decided to increase our presence at Reservoir Woods East due to its excellent location and because we feel comfortable that we will be able to take occupancy of a highly specialized building in a short period of time. The professionals at Davis Marcus Partners have consistently delivered creative solutions to our tenant growth needs and we are pleased to work with them in this venture."

Multimillion-Dollar Investment in Verizon Technology Innovation Center Includes New Building, R&D Labs, Executive Briefing Center at Existing Verizon Technology Campus

BASKING RIDGE, N.J., and WALTHAM, Mass., - Verizon broke ground today on its new Technology Innovation Center in Waltham, Mass. The center will be a catalyst for delivering new and innovative devices and services that connect people, places and things, using next-generation wireline and wireless technology.

The Verizon Technology Innovation Center will be the first-of-its-kind collaboration hub for expanding the telecommunications ecosystem by taking advantage of the convergence of new technologies to offer customers powerful new products and services.

The brainchild of Dick Lynch, Verizon executive vice president and chief technology officer, the Verizon Technology Innovation Center is designed to provide a central base for Verizon's advanced technology initiatives. It will house office and lab space for some of the country's leading technologists and scientists as well as a state-of-the-art Executive Briefing Center where partners, consumer electronics companies, innovation collaborators, business executives and public officials can meet to discuss and collaborate on forward-looking technologies such as FiOS and next-generation 4G Long Term Evolution (LTE) wireless technology. Application and advancement of these new technologies will be a key focus.

Together with the Verizon Technology Campus at Waltham - which houses Verizon technical staff focused on end-to-end architecture, design and testing of the Verizon network as well as IT applications development - the Technology Innovation Center will employ a total of more than 300 leading technologists. The additional space will provide the facilities, partner meeting spaces and collaboration areas that are necessary to keep the Waltham campus a world-class center.

Work at the Verizon Technology Innovation Center will include:

• Planning for the continued integration of Verizon wireline and wireless networks
• Providing a home base for the development of the first nationwide 4G LTE network in the U.S., now undergoing user trials in the Boston area
• Expanding support for third parties that are working on new devices and applications for use on Verizon's networks
• Ongoing testing to ensure continued global network interoperability with other worldwide network companies, including British Telecom, Deutche Telekom, France Telecom, NTT and China Telecom

• Optimizing and advancing the portion of the Internet provided and maintained by Verizon
• Maximizing connectivity and performance of Verizon's customers to the Internet
• Conducting user experience testing and focus groups for products such as FiOS TV and FiOS broadband
• Developing ideas and applications for the National Science Foundation's Global Environment for Network Innovations (GENI) project for Web 2.0

Verizon's Lynch said, "Verizon is recognized as a global leader in innovation and technology, and the Verizon Technology Innovation Center will allow our world-class scientists and IT professionals to continue to have the leading-edge resources they need to develop the technologies, products and services that can dramatically change the way we live. As a Massachusetts native, I'm extremely pleased to be here shaping Verizon's technology investments and creating Verizon's future technology vision in the Bay State."

The Verizon Technology Innovation Center is scheduled to be completed in early 2011 and will include a 60,000-square-foot, three-story facility located in the Reservoir Woods East Campus off of Winter Street in Waltham. The property is owned by Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI). The new building, designed by noted Boston architect Howard Elkus of Elkus-Manfredi, will be developed to LEED Silver standards of the United States Green Building Council.

When the Verizon Technology Innovation Center is complete, the current 136,000-square-foot Verizon Technology Campus in Waltham will be expanded to a total of 196,000 square feet.

Waltham was selected as the site for the new center because of the company's partnership with local high-tech innovators, including Airvana, Starent (now part of Cisco), Camiant, Acme Packet, NetNumber and Sonus Networks, and because of the site's proximity to other local entrepreneurial tech firms and the wealth of Massachusetts' academic and research institutions.

The Waltham location also supports Verizon's leadership in the Massachusetts IT Collaborative, an organization formed by Gov. Deval Patrick and composed of business, academic and government leaders who are working to create more investment opportunities and jobs in the IT sector in the Bay State.

Greg Bialecki, Massachusetts secretary of housing and economic development, noted, "The Verizon Technology Innovation Center brings a new generation of wireless technology innovation and opportunity here to Massachusetts. This investment is key to supporting the state's constantly growing technology sector, and is a prime example of what is possible here in the Commonwealth."

The site in Waltham also serves as the hub of wireless technology and user trials in the Boston area. Verizon Wireless has been testing its forthcoming 4G LTE network in Boston since August 2009 and is on track to deliver an outstanding wireless data experience to customers in the area, as well as in 25 to 30 other markets, covering roughly 100 million people by the end of this year. Verizon Wireless is currently installing LTE equipment at existing cell sites and switching centers around the U.S. as part of its extensive, ongoing investment in its voice and data network infrastructure.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

Multimillion-Dollar Investment in Verizon Technology Innovation Center Includes New Building, R&D Labs, Executive Briefing Center at Existing Verizon Technology Campus

BASKING RIDGE, N.J., and WALTHAM, Mass., - Verizon broke ground today on its new Technology Innovation Center in Waltham, Mass. The center will be a catalyst for delivering new and innovative devices and services that connect people, places and things, using next-generation wireline and wireless technology.

The Verizon Technology Innovation Center will be the first-of-its-kind collaboration hub for expanding the telecommunications ecosystem by taking advantage of the convergence of new technologies to offer customers powerful new products and services.

The brainchild of Dick Lynch, Verizon executive vice president and chief technology officer, the Verizon Technology Innovation Center is designed to provide a central base for Verizon's advanced technology initiatives. It will house office and lab space for some of the country's leading technologists and scientists as well as a state-of-the-art Executive Briefing Center where partners, consumer electronics companies, innovation collaborators, business executives and public officials can meet to discuss and collaborate on forward-looking technologies such as FiOS and next-generation 4G Long Term Evolution (LTE) wireless technology. Application and advancement of these new technologies will be a key focus.

Together with the Verizon Technology Campus at Waltham - which houses Verizon technical staff focused on end-to-end architecture, design and testing of the Verizon network as well as IT applications development - the Technology Innovation Center will employ a total of more than 300 leading technologists. The additional space will provide the facilities, partner meeting spaces and collaboration areas that are necessary to keep the Waltham campus a world-class center.

Work at the Verizon Technology Innovation Center will include:

• Planning for the continued integration of Verizon wireline and wireless networks
• Providing a home base for the development of the first nationwide 4G LTE network in the U.S., now undergoing user trials in the Boston area
• Expanding support for third parties that are working on new devices and applications for use on Verizon's networks
• Ongoing testing to ensure continued global network interoperability with other worldwide network companies, including British Telecom, Deutche Telekom, France Telecom, NTT and China Telecom
• Optimizing and advancing the portion of the Internet provided and maintained by Verizon
• Maximizing connectivity and performance of Verizon's customers to the Internet
• Conducting user experience testing and focus groups for products such as FiOS TV and FiOS broadband
• Developing ideas and applications for the National Science Foundation's Global Environment for Network Innovations (GENI) project for Web 2.0

Verizon's Lynch said, "Verizon is recognized as a global leader in innovation and technology, and the Verizon Technology Innovation Center will allow our world-class scientists and IT professionals to continue to have the leading-edge resources they need to develop the technologies, products and services that can dramatically change the way we live. As a Massachusetts native, I'm extremely pleased to be here shaping Verizon's technology investments and creating Verizon's future technology vision in the Bay State."

The Verizon Technology Innovation Center is scheduled to be completed in early 2011 and will include a 60,000-square-foot, three-story facility located in the Reservoir Woods East Campus off of Winter Street in Waltham. The property is owned by Davis Marcus Partners, a venture between Marcus Partners and The Davis Companies, in partnership with Prudential Real Estate Investors (PREI). The new building, designed by noted Boston architect Howard Elkus of Elkus-Manfredi, will be developed to LEED Silver standards of the United States Green Building Council.

When the Verizon Technology Innovation Center is complete, the current 136,000-square-foot Verizon Technology Campus in Waltham will be expanded to a total of 196,000 square feet.

Waltham was selected as the site for the new center because of the company's partnership with local high-tech innovators, including Airvana, Starent (now part of Cisco), Camiant, Acme Packet, NetNumber and Sonus Networks, and because of the site's proximity to other local entrepreneurial tech firms and the wealth of Massachusetts' academic and research institutions.

The Waltham location also supports Verizon's leadership in the Massachusetts IT Collaborative, an organization formed by Gov. Deval Patrick and composed of business, academic and government leaders who are working to create more investment opportunities and jobs in the IT sector in the Bay State.

Greg Bialecki, Massachusetts secretary of housing and economic development, noted, "The Verizon Technology Innovation Center brings a new generation of wireless technology innovation and opportunity here to Massachusetts. This investment is key to supporting the state's constantly growing technology sector, and is a prime example of what is possible here in the Commonwealth."

The site in Waltham also serves as the hub of wireless technology and user trials in the Boston area. Verizon Wireless has been testing its forthcoming 4G LTE network in Boston since August 2009 and is on track to deliver an outstanding wireless data experience to customers in the area, as well as in 25 to 30 other markets, covering roughly 100 million people by the end of this year. Verizon Wireless is currently installing LTE equipment at existing cell sites and switching centers around the U.S. as part of its extensive, ongoing investment in its voice and data network infrastructure.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 91 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

BOSTON—As Hub-based real estate investment firm Marcus Partners continues to gear up for a national buying spree, founder and namesake Paul Marcus has brought on another seasoned professional, hiring David Keiran as a principal and chief financial officer to oversee the company’s financial activities and manage investor relations. Most recently at the New Boston Fund, where he was an SVP and director of investor relations, Keiran has more than 25 years experience in accounting, client service, finance, portfolio management and taxation matters.

“David’s institutional real estate experience and relationships will complement our management and investment strategy and enhance our ability to provide the highest level of reporting and client service,” Paul Marcus says in a release welcoming Keiran to the firm, which recently raised $210 million of new capital in anticipation of what he terms “a wave of opportunistic properties” that will emerge in the coming years.

Keiran concurs with the notion that deteriorating industry fundamentals “should translate into attractive asset pricing,” and says he looks forward to the new position. Prior to NBF, Keiran was a partner at TA Associates Realty, where his responsibilities included marketing and asset management of commercial and multifamily assets. Other knowledge was gleaned earlier in his career at PriceWaterhouse where he specialized in banking, investments and real estate.

David Keiran has been hired as a principal and chief financial officer at Marcus Partners, a Boston-based real estate investment firm.

Keiran will oversee the company's financial activities and to manage investor relations.

He has more than 25 years of experience in many facets of real estate investment and management, including accounting, taxation, finance, marketing, client service and asset and portfolio management.

Before joining Marcus Partners, Keiran was senior vice president and director of investor relations for New Boston Fund. Prior to New Boston, Mr. Keiran was a partner at TA Associates Realty.

"We are pleased that David has joined the firm to round out our team of real estate investment professionals," said, Paul Marcus, managing principal. "His institutional real estate experience and relationships will complement our management and investment strategy and enhance our ability to provide the highest level of reporting and client service."

Having recently raised more than $210 million of new investor capital, Marcus Partners is anticipating a wave of opportunistic properties coming to market over the next few years, the company said in a statement.

"Downward pressure on real estate pricing continues to build as the excesses of the past few years are reversed. The caution on the part of buyers, combined with guarded lenders, deteriorating market fundamentals and more assets being brought to market should translate into attractive asset pricing. We realize that we need to be patient and let the markets unfold and are excited about the opportunities that lay ahead," said Keiran.

Marcus Partners plans to dip into its new $210 million fund to invest in the D.C. area.

The Boston-based real estate investment firm wants to target a mix of properties -- including office, bio-medical, medical office, and light industrial properties -- in metro areas east of the Mississippi River with Marcus Capital Partners Fund I.

Marcus Partners plans to invest $400 million into value-oriented real estate or related assets, shooting for individual deals in the range of $10 million to $130 million.

Institutional investors -- which include pension plans and endowments -- put up the bulk of the capital and smaller contributors include family offices and high-net-worth individuals. The fund took a little less than a year to raise, according to Kyle O’Connor, who will manage the fund and oversee the company’s investment activities in the D.C. and mid-Atlantic region.

“You have to prepare yourself for capital commitments prior to getting to the point where interesting investments come up so that you can take advantage of them when the time is right,” he said. “The formation period precedes the investment period.”

He says the fund is actively pursuing investment opportunities in the D.C. area, with a concentration on office space, and has submitted investment offers in a variety of buildings that have come on the market. He notes that it may take some time before any deals close.

“In the long-term view we do believe in Washington as a marketplace but the investment markets are fairly anemic right now.”

BOSTON—Even with plenty of fresh capital in its pocket to spend on commercial real estate, the Marcus Capital Partners Fund I is proceeding ahead frugally and cautiously, namesake Paul R. Marcus stressed this week in announcing the closing of the $210 million vehicle that will be used to secure more than $400 million of product from New England to Florida.

“Patience is going to be critical,” advises Marcus. While encouraged that much of the denial on valuations has been wrung out of the market, Marcus says it will take time for prices to adjust appropriately and assets to be packaged for sale. “We are not expecting a VBY shaped recovery,” he says. “We expect it is going to be longer and slower than what people might be hoping for.” Over the next six to 18 months, however, Marcus anticipates there will be the evolution of “a new normal” that reflects the realities of the brutal market correction. That is when the best values will emerge, he predicts.

As such, Marcus Fund I is in no rush to expend its money haphazardly, although the capital’s tentacles are already out in markets throughout the East Coast thanks to a team of investment managers that has been infused by the arrival of mid-Atlantic specialist Kyle O’Connor. Coming on board as a principal, O’Connor brings more than 17 years experience, having secured approximately $4 billion in assets for clients while at such firms as Metzler North America and AEW Capital Management. “Kyle really gives us great coverage in Washington and every major mid-Atlantic market,” says Marcus, adding to a team that includes William McAvoy in Boston, David Fiore covering the Connecticut and New York sector and J. Mark Stroud, who oversees the southeast.

“We are going to go where the opportunities are,” Marcus says in assessing the fund’s geographic goals, albeit generally restricted to areas east of the Mississippi River. Investments will be equally flexible. Deal size will range from $10 million to $130 million, he estimates. Efforts will be focused on acquiring assets at discounts to replacement cost; recapitalization of distressed owners; and debt made available from pending loan maturities and defaults. Hotels and residential properties are not high on the shopping list, but product types Marcus Partners is familiar with such as life sciences, industrial and retail will get attention, says Marcus.

Realistically, Marcus says he expects investment sales velocity will not stabilize until late 2009 or early next year. In the meantime, he calls himself “humbled” by the robust reaction of institutions and high-networth individuals contributing to the fund in advance of that rebound. “Over the past 25 years, we have developed meaningful and trusting relationships with investors, and are excited about the investment opportunities that we are starting to see on the horizon,” says Marcus. “We look forward to placing the fund’s equity into investments that are both profitable and strategic.”

Newly-formed Marcus Partners has raised $210 million for its debut private equity real estate fund, and is expected to formally close the vehicle at the end of the year with up to $250 million in commitments.

The Boston-based investment firm has raised the capital from high-net-worth individuals and institutional investors, who have had previous relationships with founder Paul Marcus.

Marcus set up the firm in June 2008 after he split from longtime business partner Jonathan Davis. The pair had run development company Davis Marcus for around 15 years.

Several former Davis Marcus executives were hired by Marcus. Former AEW Capital director Kyle O’Connor also joined the firm recently as principal to manage Marcus Capital Partners Fund I and have responsibility for investments in Washington DC and the mid-Atlantic region.

He told PERE the firm was in no rush to deploy the capital saying: “It’s fairly early in the down-leg of the cycle but every day we are starting to see more and more interesting opportunities.”

The seven-year, closed-ended fund is aiming for IRRs in the upper-teens, he added, employing a value-added strategy targeting office, medical office and light industrial properties and debt in metropolitan cities in the East of the US. He added that strategy classifications were “blurred” in today’s environment, and that Marcus Partners could do a mix of core and opportunistic-style investing. “In this market flexibility is needed,” he said.

Real estate investment firm Marcus Partners has closed Marcus Capital Partners Fund I, which will pursue diversified investments, including office, biomedical, medical office, and light industrial properties. The fund’s geographical focus will be on major metropolitan areas east of the Mississippi River.

Marcus Partners closed $210 million of capital commitments and is actively looking to invest $400 million in value-oriented real estate assets. Most investors are institutions and family offices, as well as high-net-worth individuals.

It will invest $10 - $130 million in each deal, with a focus on buying assets at discounts, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, purchasing distressed debt and investing in select capital-constrained situations.

The news comes after the recent hire of Kyle O’Connor, who will manage Fund I and oversee the investment activities in the Washington, D.C. market and the Mid-Atlantic region. O’Connor comes aboard as a principal, after having served as Metzler North America and AEW Capital Management.

BOSTON-Locally based Marcus Partners is closing its Marcus Capital Partners Fund I, which is focusing on office, bio-medical, medical office and light industrial properties in major cities "primarily east of the Mississippi River," states a release. The fund is currently at $210 million.

The assets being targeted will range from $10 million to $130 million. The fund will invest roughly $400 million dollars as they work out deals with roughly 50% debt, Paul Marcus, president of Marcus Partners tells GlobeSt.com. "We're looking at everything from distressed to just straight up purchases," he explains. "I think the fund will end up being probably about 60% to 70% C interests of either preferred equity or just direct fee ownership interests. And another 30% will be more debt related or 'special situations'."

The fund will seek properties west of the Mississippi under certain conditions, noting it would have to be "a larger transaction that would include assets on both sides" of the river, Marcus says. "We would look at anything from cash-flowing real estate in a partnership-type transaction in a preferred equity structure, which is a lot of stuff that we're talking about now, to buying the assets and turning them around."

Although this is a possibility, the fund has a time-frame of five to seven years, holding onto the majority of the property for four to seven years. "We think we're still early in this cycle," Marcus says. "and we believe there will be an enormous amount of opportunities becoming available over the next six to 24 months."

Looking to take advantage of the current bargains to be had in the investment market, Boston-based real estate investment firm Marcus Partners has closed Marcus Capital Partners Fund I with $210 million in capital commitments. The fund will cast a wide net, pursuing diversified investments including office, bio-medical, medical office and light industrial properties.

The fund will be focused on major metropolitan areas primarily east of the Mississippi River. Leveraging the existing capital commitments, the fund is looking to invest $400 million into value-oriented real estate or related assets.

The fund’s target individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

Marcus Partners joins a spate of other investment funds closing in recent months looking to capitalize on lower pricing in the investment market. On June 30, CPN reported that the Blackstone Group completed the final closing of Blackstone Real Estate Partners Europe III, with a total of approximately $4.3 billion in equity capital commitments.

And in late April, private real estate investment firm Rockwood Capital L.L.C. closed an investment fund with some $964 million in capital commitments. The value-added fund, dubbed Rockwood Capital Real Estate Partners Fund VIII, plans to invest primarily in hotel, retail, office and residential properties in the United States.

Earlier in the spring, CPN reported that apartment complex developer AvalonBay Communities Inc. closed a $400 million investment fund, $125 million of which was funded by the firm itself, with the remainder coming from institutional investors. With leverage, the fund can make up to about $1.1 billion in investments, most of which will be on properties in high barrier-to-entry markets in the Northeast, mid-Atlantic, Midwest and West Coast, the firm said. And on April 9, CPN reported that Wrightwood Capital closed a $243 million fund. The company's High Yield Partners II Fund will be invested in recapitalizations, acquisitions and selected new development projects.

Marcus Partners hired Kyle O’Connor to manage Fund I, as well as to oversee the company’s investment activities in the Washington, D.C., market and the Mid-Atlantic region. O’Connor joined the company as a principal.

Boston-based real estate investment company Marcus Partners recently closed the Marcus Capital Partners Fund I and added Kyle O'Connor to the firm to manage the fund.

Marcus Partners has closed $210 million of capital commitments and is actively looking to invest $400 million into value-oriented real estate or related assets. The company said it targets individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations.

The fund will be used to pursue a diversified list of investments east of the Mississippi River. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

"We are humbled and mindful of the confidence and trust that our investors have placed in us which enabled us to raise capital during these difficult market conditions," said Paul R. Marcus, managing principal of Marcus Partners. "Over the past 25 years we have developed meaningful and trusting relationships with investors and are excited about the investment opportunities that we are starting to see on the horizon. While remaining cautiously optimistic, we look forward to placing the fund's equity into investments that are both profitable and strategic in order to deliver significant returns for our investors."

The company recently hired Kyle O'Connor to manage Fund I, as well as to oversee the company's investment activities in the Washington D.C. market and the Mid-Atlantic region. O'Connor is joining the company as a principal, adding to a team of principals that includes industry veterans William McAvoy, who oversees the Boston region; David Fiore, who directs the Connecticut and New York region; and J. Mark Stroud, who oversees the Southeast region.

O'Connor brings more than 17 years of real estate investment experience to Marcus Partners, including the acquisition of approximately $4 billion in assets on behalf of both commingled funds and separate account clients. He previously worked at Metzler North America and AEW Capital Management.

There’s a new buyer in town: Marcus Partners, a Boston-based real estate investment firm, has closed its first fund and wants to invest between 20% to 40% of it in DC real estate. Fund manager Kyle O’Connor tells us it has $210M of equity: that’s $400M in purchasing power. Marcus recently bid, unsuccessfully, on a few DC offices, one of which just traded. “We view the DC market as being one of the more stable and interesting in the nation.” Right now, though, the pickings are slim, with deal flow “anemic”, Kyle says. “We expect that to change.”

Marcus Partners, a Boston-based real estate investment firm, announced today that the company has closed Marcus Capital Partners Fund I. Fund I will pursue diversified investments, including office, bio-medical, medical office, and light industrial properties, and will be focused on major metropolitan areas east primarily of the Mississippi River.

Marcus Partners has closed $210 million of capital commitments and is actively looking to invest $400 million into value-oriented real estate or related assets. The company’s target individual deal size ranges from $10 million to $130 million. It will focus its efforts on acquiring assets at discounts to replacement cost and normalized value, recapitalization of distressed or overleveraged owners, taking advantage of pending loan maturities and defaults, acquiring distressed debt and investing in select capital-constrained situations. Marcus Partners investors are primarily institutions, family offices, as well as high-net-worth individuals.

“We are humbled and mindful of the confidence and trust that our investors have placed in us which enabled us to raise capital during these difficult market conditions,” said Paul R. Marcus, Managing Principal of Marcus Partners. “Over the past 25 years we have developed meaningful and trusting relationships with investors and are excited about the investment opportunities that we are starting to see on the horizon. While remaining cautiously optimistic, we look forward to placing the fund’s equity into investments that are both profitable and strategic in order to deliver significant returns for our investors.”

The company also announced that it recently hired Kyle O’Connor to manage Fund I, as well as to oversee the company’s investment activities in the Washington, D.C. market and the Mid-Atlantic region. Mr. O’Connor is joining the company as a principal, adding to a team of principals that includes industry veterans William McAvoy, who oversees the Boston region; David Fiore, who directs the Connecticut and New York region; and J. Mark Stroud, who oversees the Southeast region.

Kyle O’Connor brings more than 17 years of real estate investment experience to Marcus Partners, including the acquisition of approximately $4 billion in assets on behalf of both commingled funds and separate account clients. He previously worked at Metzler North America and AEW Capital Management.

“We are thrilled that Kyle has joined and rounded out our experienced team,” Marcus said. “His experience and relationships will allow for a well positioned and seamless entry into this new investment market for us.”