Milwaukee-based Marquee Capital has announced the launch of a new fund targeting property types including senior housing, with a goal of raising up to $100M for investments.
Marquee this week announced it had met its $30 million launch goal for Marcus RE Fund II, LP, which represents Marquee’s second investment fund. The fund will be used for a range of property types, primarily cash-flowing retail and value-add senior housing communities.
The plan for the Marcus RE Fund II is to add $70 million of equity to add to Marquee’s continued growth, according to the press release.
Between 30% and 40% of the fund is being targeted for senior housing — specifically assisted living and memory care, Marquee Capital Managing Director Tim Anderson told Senior Housing News.
“While every seller is different, margins have shrunk across all product types in seniors housing,” Anderson said. “While capital has become scarce, that’s creating a buyer’s market for sophisticated investors.”
The fund is anticipated to begin seeing use to acquire assets within the next 18-24 months, Marquee Capital Partner Dan Sisel told SHN.
Marquee Capital currently has $300 million and 500 senior housing units under its management, representing six communities located in Fort Wayne, Ind.; Cincinnati, Ohio; Atlanta, Ga.; Charlotte, N.C.; Chicago, Ill.; and Dallas, Texas.
Marquee Capital currently works with operators Charter Senior Living and Vitality Living, both of which Anderson said the company has had great relationships with and plans to continue to partner with moving forward.
Marquee has in the recent past traded communities, though it has been on the other side of the table. The company in June sold a senior living community in Mequon, Wisconsin, to Inspired Healthcare Capital.