Trion Properties has launched its first investment fund vehicle. Bisnow caught up with managing partners and co-founders Max Sharkansky and Mitch Paskover to get the details.

The fund will have a target of $30M in equity to reach $100M in buying power.

The 10-year-old private equity firm will invest in acquiring and renovating multifamily properties in LA as well as San Diego, Portland, OR, and the San Francisco Bay Area. Portland and the Bay Area are targeted because they are high-growth markets, Mitch and Max (pictured above with their wives on a ski trip) say.

The pair says Trion Properties manages its own multifamily portfolio in-house as opposed to being asset managers who oversee the operations of another property management company.

Focusing on value-add multifamily properties in key geographic areas contributes to their success, they tell us.

Trion plans to use crowdfunding for its debut fund, partnering with RealCrowd for the initial launch. The fund will seek out accredited high-net-worth investors.

There are plans for an institutional fund in the future.