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The Real Deal Los Angeles

Belay Investment is soliciting $500M of equity for new fund

Its joint venture with LA's Arc Capital received $200M of initial capital from California State Teachers

June 27, 2016 01:00PM

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Belay Investments principal manager Suzanne West and Arc Capital co-founder Quincy Allen

Belay Investments principal manager Suzanne West and Arc Capital co-founder Quincy Allen

Los Angeles-based fund manager Belay Investment is on the hunt for some equity.

Belay has committed $50 million to a joint venture with L.A. firm Arc Capital to acquire value-add multifamily and retail properties in Southern California and Texas.

For its general fund, dubbed Belay Partnership Ventures 2, the firm is now soliciting $500 million of equity, REAlert reported. 

In February, it acquired $200 million of initial capital from California State Teachers.

The fund aims for about a 13 percent return and will be involved in $1 billion worth of acquisitions. It will focus on buying apartment complexes and retail buildings in urban areas where there are plenty of millenials.

With $140 million of joint buying power, the partnership with Arc Capital is called ArcWest Partners. Arc Capital largely focuses on properties valued between $10 million to $50 million. [REAlert] — Cathaleen Chen

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