Harbor Capital Launches Real Estate Opportunity Fund

Mar 5 2008 | 10:36am ET

Salt Lake City, Utah-based Harbor Capital Partners is launching a $25 million private equity fund that will invest in longer term opportunistic real estate projects. 

The new vehicle, the Harbor Realty Opportunity Fund, will focus on smaller-sized multi-family and mixed-use commercial projects. The fund will typically make cash equity infusions of between $2 million and $5 million into an expected total of six to eight development projects.

The Harbor managers will focus primarily on projects in the intermountain west, where Harbor has already provided over $350 million in funding to more than 250 real estate projects through its existing ABL fund. 

“We know this market quite well and are in continual contact with most of the local developers,” says Harbor Capital Partners’ Principal Ryan Relyea.

Principal Phil Holmes adds, “These micro-projects often possess significant value, but have fallen off of the radar screen of most large real estate investors.”

The new fund is targeting returns of 20% to 25% net of fees per annum with a preferred return to investors of 12% per annum.

Harbor, which was founded in 1999, currently manages an $80 million asset backed lending fund dubbed the Harbor Real Asset Fund.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…