Palisades Mexico Partners(PMP), a joint venture between Joaquin de Monet, founder and managing principal of Palisades Capital Realty Advisors LLC, and Sergio Arguelles, president/CEO of Monterrey, Mexico-based real estate development company FINSA, has formed Palisades Income and Growth Fund II.

The $150 million fund plans to acquire a portfolio of core plus and value-add suburban office properties with a stable annual yield and opportunities for significant capital appreciation in Western U.S. markets. Once fully vested, the fund expects to have invested in about 20 properties across multiple West Coast suburban markets with a total value of $450 million.