July 2009

Has Money, Will Spend

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.”

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