Texas Real Estate Fund Expands To $500M

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%.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note