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Belay Investment Group and Arc Capital Partners just launched a JV to acquire $150M of multifamily and retail properties in California and Texas in growing urban markets to ride the wave of Millennial demand.
“While we are being extremely selective at this time in the recovery cycle, we are currently pursuing a $350M pipeline of properties located primarily in Los Angeles and Houston,” Arc Capital Partners' managing partner Neville Rhone told Commercial Property Executive.
Arc Capital focuses on acquiring middle-market properties in urban locations that can be repositioned to Millennials. Belay is anchored by a $200M commitment from the California State Teachers’ Retirement System and has a $500M equity target. [CPE]
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