SEATTLE-Unico Investment Group LLC, a real estate investment and operating company, revealed that the Laird Norton Co. has committed $40 million as the lead investor for Unico Diversified Fund I, a newly formed real estate investment fund. The Laird Norton Co. will commit $20 million to the fund and an additional $20 million toward joint venture acquisitions with the fund.
“Laird Norton evaluated numerous regional and national firms before we chose Unico as our real estate investment partner,” says Jeff Vincent, CEO and president of the Laird Norton Co. “Unico Diversified Fund I is a natural collaboration of two of Seattle’s most established and respected companies.”
LNC’s commitment of $40 million combined with Unico’s commitment of $10 million represents a total of $50 million of equity from both companies to launch the $100 million fund. LNC is a seventh-generation family business whose members were instrumental in the founding of Weyerhaeuser Co., the Potlatch Corp., and Boise-Payette Lumber, now known as Boise Cascade Corp.
“This investment relationship gives credence to the strength and experience of Unico’s operating platform,” says Quentin Kuhrau, Unico’s president & CEO. “Laird Norton is a top-tier partner and we see this as a prime opportunity to merge our collective expertise and leverage our capital and industry relationships.”
Kuhrau tells GlobeSt.com that the fund’s objectives are to provide high-net-worth investors the opportunity to acquire office and multifamily rental properties in the Western US at “cyclically low prices that we believe will benefit them as the commercial real estate markets recover over the next five to seven years.”
Kuhrau also tells GlobeSt.com that properties are being acquired now—pre-fund formation—and will be acquired over the next three to four years. Unico will serve as the fund manager, overseeing all acquisitions, dispositions, property management, and day-to-day operations.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
