Marquee Capital recently acquired Pavilion Shopping Center in Beachwood, Ohio. The investment will be the first asset acquired in the company’s second real estate fund, Marcus RE Fund, II LP and will close out the company’s first real estate fund, Marcus RE Fund I, LP. In August of this year, the company announced that it had a successful first closing for their second fund in the amount of $36 million.
“Uncertainty in today’s economy is providing exceptional investment opportunities, especially in retail, an asset class that we have a proven track record of success for over a decade”, said Jay Peirick, Managing Partner of Marquee Capital. “Our investment thesis focuses on premier retail assets that have been the beneficiary of reduced vacancy levels, stronger tenant performance and increased net operating income. Pavilion Shopping Center is a Giant Eagle anchored shopping center, in an irreplaceable location, with under market rents, that we were able to acquire at an extremely attractive price due to our ability to secure debt and provide certainty to close.”
About Marcus Investments, LLC & Marquee Capital
Marquee Capital, the real estate company under the Marcus Investments family office umbrella, has developed and/or managed more than $700 million of real estate nationwide since its inception in 2008. The company’s team of real estate and multi-vertical business experts is actively seeking opportunities to accelerate its growth, with a focus on acquiring open air retail shopping centers and seniors living communities. Prospective retail opportunities should be sent to the attention of Jay Peirick, email@example.com and prospective senior living opportunities should be sent to the attention of Dan Sisel, firstname.lastname@example.org.