Wednesday, 1 April 2015
Last updated 8 hours ago
May 4 2011 | 1:28pm ET
Everything's bigger in Texas, so it makes sense that Mark Jordan and Kevin White have upped the size of their recently launched State of Texas Real Estate Fund from $150 million to $500 million.
“We we are getting heavy interest in our investment strategy for the fund [from] major domestic and foreign institutional investors,” Jordan told FINalternatives. “However, many of these investors have a minimum investment criteria of $50 million to $100 million and cannot take more than 20% of the entire fund. Therefore, we have neutralized that issue by increasing the size of the fund.”
The real estate vehicle, launched earlier this year, targets high-quality distressed office, industrial and raw land in Austin, Dallas, Houston and San Antonio.
Jordan is the owner of JP Realty Partners and Sooner National Property Management while White has 14 years’ experience in Texas real estate, including six years running KGW Real estate, a commercial real estate firm providing services to commercial tenants and investors.
STXRE will acquire properties that are in distress typically due to low occupancy. The buildings will be leased up and sold within two-to-three years. Its managers characterize STXRE as a “pure capital gain play” with a projected IRR of 20%-22%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…