Milwaukee-based Marquee Capital, the real estate arm of Marcus Investments, announced that it raised more than $30 million for a second real estate investment fund that it launched earlier this year.
Marcus RE Fund II, LP, has a funding goal of $100 million.
The fund continues Marquee Capital’s strategy of acquiring retail shopping centers throughout the Midwest, but also focuses on senior housing and other “opportunistic” real estate plays, according to a press release from the firm.
“Higher interest rates and tightening debt markets are creating opportunities for sophisticated buyers,” said Jay Peirick, managing partner of Marquee Capital. “We are being presented off-market deals at attractive prices because sellers know we can react quickly, have ready access to capital and have long-standing lender relationships providing us certainty to close.”
Formerly known as Berengaria Development, Marquee Capital currently has more than $300 million in assets under management, with around 1.85 million square feet of retail space and around 500 seniors housing units, the release says.
“Our existing retail and seniors housing portfolios continue to benefit from supply-demand imbalances,” Peirick said.
Founded in 2008, Marquee Capital has completed $700 million in transactions nationwide. Locally, the company owns the Grafton Commons shopping center, which Berengaria purchased for $33.5 million in 2018.
