Palisades Private Capital Fund I

Overview

$160MM portfolio of large, diversified suburban Class A & B assets –
$10MM–$25MM total purchase price in west coast markets

  • currently fundraising - $50MM – first close completed in june '14
  • initial close included 2 assets totaling $10.3MM of equity ~20%
  • premium returns +2% vs.$35MM+
  • less competitive, less sophisticated, less efficient
  • private buyers – limited infrastructure / expertise
  • "qualified" and relationship buyers have advantage
  • significant discount to replacement cost
  • combination of yield and capital appreciation – portfolio level
  • 12% to 18% levered IRR / 2x multiple