Greenville-based RealOp Investments (ROI) has launched the ROI Real Estate Opportunities Fund, targeting commercial real estate assets across the Southeast.
While not unique to the larger national market, a fund such as this is unique within Greenville, said RealOp partner and Chief Investment Officer Kyle Putnam.
RealOp is aiming to raise $20 million in equity from accredited investors, which would translate to roughly $50 million in buying power for the fund. Assets will include value-add and opportunistic retail, office and industrial properties, he said.
“We’re going in with a property day one that’s already making money with investors,” said Putnam, The fund would be seeded with a 40,000-square-foot property in Charleston, he said.
Putnam said the primary target markets will include Greenville, Charleston, Columbia, Raleigh, N.C., Jacksonville, Fla. and Savannah, among others. The firm’s experience and relationships allow it to uncover unique deals not generally available to the public, while focusing on the Southeast allows Greenville-based RealOp representatives to closely monitor assets in person via a day’s drive, he said.
“Diversification is a big driving factor in why people want real estate as a component to their investment portfolio, as it is typically non-correlated to the stock and bond market,” Putnam said. “We are committed to building long-term relationships with our investors and assisting them in creating and sustaining wealth through strategic real estate investments.”
Fund assets will range from $1 million to $10 million in purchase price, and will have a five-year hold period for each property.
Based in Greenville, RealOp Investments has more than $70 million in owned and managed assets.
[ Featured image at top of article via RealOp Investments ]
