July 2009

Marcus Partners Closes Fund, Hires Manager

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.

Mark 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.

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