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Capacity Doubles for Next Morrison Street Fund

PORTLAND, OR-Locally based NBS Real Estate Capital is in escrow to invest the last of the equity from Morrison Street Fund I while in the throes of an equity raise for its sequel. It's expected to wind up with $50 million of equity that will be leveraged into $200 million of real estate.

By Brian K. Miller | Updated on January 30, 2006

PORTLAND, OR-NBS Real Estate Capital is raising funds for its second investment vehicle, Morrison Street Fund II, which is expected to end up with $50 million of equity in its coffers. That’s about twice the equity of its inaugural fund. With leverage, the money will be parlayed into about $200 million of real estate.

The first fund–launched two years ago and now in escrow to acquire its last asset–was substantially limited to the Northwest and includes the 400,000-sf I-84 Distribution Center. The second fund will be specifically targeting more assets outside of the Northwest, in states such as Arizona, California and Nevada.

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