LRG Capital Real Estate Partners, San Francisco, plans to launch a new investment fund targeting institutional investors that want to buy undervalued commercial properties in the Bay area.
The firm recently closed its real estate fund, LRG Real Estate Partners Fund I (LRGREP I), which is for new investors. The LRGREP I portfolio comprises eight office, mixed-use, and multifamily properties.
The new fund, which is called LRG Capital Real Estate Partners Fund II, will focus on larger properties.
LRG said it will apply the fundamental principles it used in fund I to the new one, including in-house management, prudent and careful diligence, and leveraging the firm's local market knowledge.
"We will continue to seek investments in which we add value though a direct operating platform and various other strategies," said CEO Larry Goldfarb.
