DENVER—Northstar Commercial Partners, a privately-held commercial real estate investment firm, has launched the Northstar Real Estate Opportunity Fund II, LLLP, a planned $300 million private equity fund focused on institutional as well as private qualified or accredited investors who are targeting real estate investments across the US.
Since its founding in 2000, Northstar has structured attractive investments in industrial and office properties on a vacant, distressed, or leased basis. The new fund is designed to leverage the company's experience during the past 16 years and acquire and reposition distressed real property assets located primarily near Denver, Salt Lake City, Phoenix, Dallas, Houston, Las Vegas, Seattle, San Francisco and Southern California.
The fund may also invest in vacant properties that, upon closing, will be 100% leased pursuant to long term leases (approximately 10 years or longer) on a triple net basis to tenants, designed to create both the potential for significant returns and strong cash flow for the Fund.
"We have developed an outstanding pipeline of deals that could represent real value creation for investors," said Brian Watson, founder & CEO of Northstar. "Our team's experience in locating and repositioning strategic real estate assets is second to none. A new Fund, with no legacy issues, will allow investors to see significant value opportunities during the next few years".
The fund will target properties Northstar believes will capitalize on current market conditions and provide an opportunity for annualized, cumulative, non-compounded returns of 20% or greater, over an expected hold period of up to seven years.
Centurion Capital is acting as placement advisor for the Fund. Richard Waryn, CEO of Centurion Capital said "we are very pleased to be working with Brian and his team. Northstar has more than 16 years of real estate investment and management experience and their track record for providing outstanding returns to investors is excellent and well established."
Northstar will continue meeting new investors through the Fund close, which is expected to happen by the end of the First Quarter of 2016. Northstar has an active pipeline of deals at play and is also actively seeking new real estate investment opportunities.
Northstar Commercial Partners is a privately held, Denver-based commercial real estate investment company that acquires and operates attractive commercial real estate opportunities throughout the nation and orchestrates all aspects of the investment from initial concept through to completion.
Northstar has purchased assets from a multitude of Fortune 500 companies including, but not limited to: Shell Oil Co., GE, Columbia House, Ball Corporation, Loomis, Cargill and a national portfolio of real estate from The Benjamin Moore Paint Co., in addition to many individual assets from other owners, lenders and companies.
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