SOURCE: LRG Capital Group, LLC

LRG Capital Group, LLC

September 14, 2010 12:16 ET

LRG Real Estate Partners Announce Successful Closing of First Fund and Intent to Launch Second Fund

Second Fund to Follow Same Strategy, Increase in Size

LARKSPUR, CA--(Marketwire - September 14, 2010) -  LRG Capital Real Estate Partners, a subsidiary of LRG Capital Group, announces today that LRG Capital Real Estate Partners I Fund (LRGREP I) is officially closed to new investors. The Fund, which was targeted to high net worth investors in the San Francisco Bay Area, closed with all equity raised after the onset of the September 2008 financial crisis. The success in fundraising during the crisis was due to the team's deep, local market presence and proven track record. 

The LRGREP I portfolio is comprised of 8 quality office, mixed use and multifamily properties. The LRG Real Estate team has extensive, hands-on operating experience and manages each property in house to add value through providing oversight and individual attention to property issues and vacancies.

With the announcement of the closing of Fund I, LRG Real Estate Partners will be moving forward with a second Fund to be called LRG Capital Real Estate Partners Fund II. This second Fund will follow the same successful strategy as Fund I focusing on the Bay Area commercial market, but will be larger in size and consider larger properties. While Fund I concentrated on high net worth investors, Fund II will be directed to institutional investors. LRG Capital Real Estate Partners plan to apply the fundamental principles of Fund I -- in house management, prudent and careful diligence leveraging the team's extensive knowledge of the local market, to its second real estate investment Fund.

"LRG Real Estate Partners II Fund will mirror the successful strategy employed for our prior fund," said LRG Capital CEO Larry Goldfarb. "We will continue to seek investments in which we add value though a direct operating platform and various other strategies."

About LRG Capital Real Estate Ventures
LRG Real Estate Ventures invests in and advises on a wide range of equity financing solutions, from joint ventures with operating and development sponsors to direct, active investments through LRG Capital Real Estate Partners, involving commercial, multi-family, retail and light-industrial real estate properties.

About LRG Capital Group
LRG Capital Group (www.lrgcapital.com) is a global investment, banking and advisory boutique that focuses on public and private companies in the technology, life sciences, hospitality, real estate and entertainment sectors. Founded by Lawrence Goldfarb, the firm provides capital via private equity, commercial loans and structured debt financing, and guides and advises clients on mergers and acquisitions, corporate finance and other strategic alternatives. Based in San Francisco with offices in New York, LRG Capital excels at relationship-focused guidance and financing.

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