Stockdale Capital Raises $550M for Debut Fund

The fund raise for SCP Real Estate Opportunities Fund I well surpassed the company’s original $300 million target.

Stockdale Capital Partners has launched a debut fund to focus on real estate opportunities. The fund had an original target of $300 million, but has well surpassed expectations with $550 million in commitments from pension plans, foundations, individuals and endowments. The fund will focus on investment in the Southwest region.

“Stockdale has a 30-year history in its core markets across the Southwest, as an owner-operator that has flexibility and value-add experience across asset classes,” Dan Michaels, managing director at Stockdale Capital Partners, tells GlobeSt.com. “Given this significant history, flexibility, as well as a GP co-invest of 10% and identifiable assets in the pipeline, Stockdale was able to garner an array of both public & private pension funds, endowments, global investment managers and international LPs for our inaugural commingled, discretionary fund.”

The fund is already 30% committed. Equity commitments includes $330 in primary commitments and $220 million in co-invest funds. The firm had identified a group of fund investors that required additional capital.

Stockdale Capital typically invests in healthcare real estate, both acquiring and developing hospital-anchored medical office with dedicated asset management and property management infrastructure. However, the fund will focus on opportunities in all asset classes to take advantage of the current market dislocation. “The investment focus is value-add and opportunistic transactions across the West and Southwest US. Fortunately, our ability to stay flexible across asset classes allows us to capitalize on the market dislocation in hospitality and retail as well as distressed transactions,” says Michaels. “Those will require expertise to navigate bankruptcies, restructurings, asset repositioning, including renovation and adaptive reuse.”

While it is focused on a broader swath of the market, Stockdale has not made any changes to its strategy as a result of the market change. “We are, by history and experience, turnaround/distressed investors and looking forward to capitalizing on this market dislocation.”