Trion Properties’ latest multifamily fund targets West, Southeast

Multifamily Opportunity Fund III will invest in value-add properties

Los Angeles /
Jun.June 24, 2021 10:00 AM
Trion Properties managing partners Max Sharkansky and Mitch Paskover (Trion Properties, iStock)
Trion Properties managing partners Max Sharkansky and Mitch Paskover (Trion Properties, iStock)

Trion Properties has launched its third fund to invest in value-add multifamily properties, as it expands across the West and Southeast.

Through Multifamily Opportunity Fund III, Los Angeles-based Trion wants to raise $75 million in equity with $200 million in buying power, it said. The minimum contribution is $50,000.

The firm will focus on properties up to 50 years old, and will undertake extensive renovations to add amenities like pools and gyms, Trion managing partner Mitch Paskover said. He runs the firm with managing partner Max Sharkansky.

The multifamily investment market has remained strong over the last year. Among the larger recent deals, Blackstone Group paid $1 billion in May for a 5,800-unit apartment portfolio in San Diego.

Paskover called the multifamily market “a safe haven” for investors.

Trion’s target investors are high net-worth individuals, family offices and endowments, he said. Larger investors like pension funds have not yet participated.

Fund III will acquire between eight and 12 apartment properties over the next two years. Trion will manage those properties and hold them for up to eight years. The fund recently made its first purchase: a 68-unit complex in Portland, Oregon.

Trion plans to open a Miami office soon and is looking closely at properties in Tampa, Florida, and Charlotte, North Carolina.

In 2019, Trion and Ketter Group filed to build a 58-unit development in L.A.

Three years before that, Trion launched a multifamily fund with $100 million in buying power, targeting L.A., the Bay Area, San Diego and Portland.

The firm owns 19 apartment buildings across California, Colorado and Oregon.


Related Articles

arrow_forward_ios
State Senator Scott Weiner is the primary author of Senate Bill 9 (Getty, California Legislative)
Study: California’s “upzoning” bill would not lead to widespread redevelopment
Study: California’s “upzoning” bill would not lead to widespread redevelopment
Los Angeles housing market reaches new heights (Getty)
Los Angeles home prices, sales soar to new records in Q2
Los Angeles home prices, sales soar to new records in Q2
Nine-agent Compass team bolts for The Agency
Nine-agent Compass team bolts for The Agency
Nine-agent Compass team bolts for The Agency
Steven and Alex Hakim, Marilyn Monroe and Humphrey Bogart with Hollywood Tower (Getty, Facebook via Hollywood Tower)
Buyer revealed for Hollywood Tower where Monroe, Bogart once lived
Buyer revealed for Hollywood Tower where Monroe, Bogart once lived
L.A. County property assessor Jeff Prang (iStock, L.A. County Assessor)
Despite pandemic, LA County property values rise by $63B
Despite pandemic, LA County property values rise by $63B
Helen Mirren and Taylor Hackford with their Hollywood home (Getty, Redfin)
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
Developer plans 123-unit SRO in Pasadena
Developer plans 123-unit SRO in Pasadena
Developer plans 123-unit SRO in Pasadena
Ravello CEO Phil Ram and rendering of the affordable housing project (LinkedIn, Ravello Holdings)
Ravello nabs $55M in construction financing for Palmdale affordable project
Ravello nabs $55M in construction financing for Palmdale affordable project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...