About Us
In 2008, Berengaria Development was founded as the real estate arm of Marcus Investments, providing development services to retail companies across the US.
Since then, the firm has evolved into a private real estate investment and asset management business having been involved in over $700M of real estate transactions and built a portfolio of assets under management currently totaling over $300M.
In early 2023, Berengaria Development was rebranded as Marquee Capital. Today Marquee Capital manages over 1.85M square feet of retail assets with 90%+ occupancy, a portfolio of seniors housing assets with over 560 units and various joint ventures with sponsors of opportunistic investments.
Avg Occupancy of Retail Assets
Historical Avg IRR
Historical Avg MOIC
* Historical Avg IRR and MOIC include unrealized investments with estimated future cash flows and terminal values based on estimated market conditions as of Q1-2023.
History
2008
Real estate team assembled under Marcus Investments.
Preferred developer for Goodwill Industries working in 17 states with 90+ developments completed.
2015
First syndication of outside capital in a retail redevelopment.
2017
First stabilized cash flowing retail asset acquired ($30M purchase in Valparaiso, IN).
2018
First ground up seniors housing development started.
2020
Marcus RE Fund I opens with ~$20M; focused on stabilized cash flowing retail assets.
2022
Marcus RE Fund I substantially deployed with ~30M of side car investments allowing for diversification. Senior housing portfolio grows to 560 units with operations in WI, IL, OH, IN, GA, NC and TX.
Investment Philosophy
PROTECT CAPITAL
Focus on low-cost basis, responsible leverage, optionality and downside protection.
GENERATE CURRENT INCOME
Distribution of cash flow incrementally mitigates risk contributing to strong
risk-adjusted returns.
RECYCLE CAPITAL
Monetizing assets after creating value within them offers a chance to realize gains and mitigates risk through market cycles.
BE FLEXIBLE
Constantly adjusting as unique circumstances often produce investment opportunity.
DIVERSIFY
Pursue opportunities that avoid concentration of risk in a particular asset, tenant, geography or operating partner.
PROTECT THE REPUTATION
Off-market opportunities are the result of decades-old relationships and a reputation for acting with integrity and perseverance.
Contact
301 N Broadway, Suite 300, Milwaukee, WI, 53202
(414) 585-8870