Hunt, KC Venture Group Partner To Offer New Investment Opportunities
March 10, 2010
Leawood, Kansas (March 9, 2010) – KC Venture Group, LLC, headquartered in Leawood, and Hunt Development Company, headquartered in El Paso, Texas, are pleased to announce the formation of KCVG/Hunt Opportunity Fund I, L.P., a private “small cap” real estate investment vehicle focused on providing capital for opportunistic commercial real estate investments (the “Fund”). The Fund will leverage its sponsors’ and key principals’ expertise in real estate finance, commercial and residential development and multifamily ownership and property management to source investment opportunities in the $1 million to $5 million range.
Steve Perry, the Fund’s Chief Operating Officer, said: “We believe there is a significant lack of opportunistic capital at this level, particularly for transactions in Midwestern and Southwestern markets where KCVG and Hunt currently own and operate properties. This should provide the Fund the opportunity to single out quality investments which meet its return parameters.”
The Fund will provide joint venture equity, mezzanine and preferred equity financing and bridge financing. In addition, the Fund may acquire performing, sub-performing and non-performing loans and provide financing for such acquisitions. Pricing of Fund capital for these investments will be competitive with the added benefit of quick execution and low transaction costs.
ABOUT KC VENTURE GROUP
KC Venture Group, L.L.C. (KCVG) is a Kansas City-based real estate investment firm that concentrates on multifamily acquisition, redevelopment and management through its property management affiliate Nolan Real Estate Services, Inc. (NRES). It also focuses on opportunistic acquisition and development opportunities on a wide variety of other real estate projects including retail, hotel, land, net leased properties, and financing and joint venture activities through its recently launched opportunity fund. Its current owned portfolio is in excess of 10,000 units, representing over $600 million in gross value. For more information, visit www.kcventuregroup.com.
ABOUT HUNT
Hunt Development Group is an affiliate of Hunt Companies, Inc. Hunt Companies, Inc. and its affiliated companies are a privately held diversified investment, real estate development, design-build, construction management and asset/property management holding company. Founded in 1947, HUNT and its affiliated companies have become one of the nation’s leading developers and contractor’s with a focus on public-private ventures, military housing, mixed-use, multi-family housing, master-planned communities, retail, office, and value added asset management. Hunt’s real estate investments consist primarily of an ownership interest in over 44,000 multi-family housing units across the country. In addition, Hunt owns commercial and industrial space, and residential and commercial land. In total, Hunt’s owned portfolio of real estate assets is in excess of $3 billion. The companies have been headquartered in El Paso and operated by the Hunt family for four generations. Regional offices are in Albuquerque, NM; Honolulu, HI; and Washington, D.C. Other HUNT affiliated companies include Hunt Development Group, Hunt Building Company, Hunt Communities, Hunt Military Communities, and Hunt Holdings (Venture Capital and Private Equity). For more information, visit www.huntcompanies.com.
Steve Perry, the Fund’s Chief Operating Officer, said: “We believe there is a significant lack of opportunistic capital at this level, particularly for transactions in Midwestern and Southwestern markets where KCVG and Hunt currently own and operate properties. This should provide the Fund the opportunity to single out quality investments which meet its return parameters.”
The Fund will provide joint venture equity, mezzanine and preferred equity financing and bridge financing. In addition, the Fund may acquire performing, sub-performing and non-performing loans and provide financing for such acquisitions. Pricing of Fund capital for these investments will be competitive with the added benefit of quick execution and low transaction costs.
ABOUT KC VENTURE GROUP
KC Venture Group, L.L.C. (KCVG) is a Kansas City-based real estate investment firm that concentrates on multifamily acquisition, redevelopment and management through its property management affiliate Nolan Real Estate Services, Inc. (NRES). It also focuses on opportunistic acquisition and development opportunities on a wide variety of other real estate projects including retail, hotel, land, net leased properties, and financing and joint venture activities through its recently launched opportunity fund. Its current owned portfolio is in excess of 10,000 units, representing over $600 million in gross value. For more information, visit www.kcventuregroup.com.
ABOUT HUNT
Hunt Development Group is an affiliate of Hunt Companies, Inc. Hunt Companies, Inc. and its affiliated companies are a privately held diversified investment, real estate development, design-build, construction management and asset/property management holding company. Founded in 1947, HUNT and its affiliated companies have become one of the nation’s leading developers and contractor’s with a focus on public-private ventures, military housing, mixed-use, multi-family housing, master-planned communities, retail, office, and value added asset management. Hunt’s real estate investments consist primarily of an ownership interest in over 44,000 multi-family housing units across the country. In addition, Hunt owns commercial and industrial space, and residential and commercial land. In total, Hunt’s owned portfolio of real estate assets is in excess of $3 billion. The companies have been headquartered in El Paso and operated by the Hunt family for four generations. Regional offices are in Albuquerque, NM; Honolulu, HI; and Washington, D.C. Other HUNT affiliated companies include Hunt Development Group, Hunt Building Company, Hunt Communities, Hunt Military Communities, and Hunt Holdings (Venture Capital and Private Equity). For more information, visit www.huntcompanies.com.