Palisades Mexico Partners, a joint venture between Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors, and Sergio Arguelles, president and CEO of FINSA, has launched Palisades Income & Growth Fund II, a $150 million fund that will acquire core-plus and value-add office properties in suburban markets. The second fund from the partnership, Palisades Income & Growth Fund II pools capital from Latin American-based investors looking to invest in US markets.

“Our investors are family offices and ultra high net worth investors in both the US and Mexico. Mexicans, like other foreign investors, are seeking attractive alternative US dollar-based returns to hedge against local currency and the stock and bond markets,” de Monet tells PMP’s first fund produced 9% to 12% returns with investor equity up 30%. For this fund, de Monet expects 8% current return annually and 15% over the 7- to 10-year hold period.