New Orleans (January 10, 2022) – Local commercial real estate firm, SVN | Urban Properties (“Urban”), is proud to announce that it has closed its first round of funding commitments and officially launched the Urban Venture Fund, L.P. The Urban Venture Fund (the “Fund”) will seek to deploy more than $30 million into Gulf South real estate over the next three years.
“The creation of the Urban Venture Fund is a natural next step for the leadership at SVN | Urban Properties,” said Eugene Schmitt, Director of Asset Management for SVN | Urban Properties. “We created and structured the Fund to serve as a non-institutional alternative for local and regional investors seeking to capture strong returns while also investing in the region they call home.”
Sponsored by the principals of SVN | Urban Properties, the Fund is a callable seven-year, closed-end fund, targeting middle market ($2-$10 million) investment opportunities across a variety of product types, including multifamily, industrial, hospitality, office, and retail in New Orleans and the surrounding area.
While the Fund’s first round of capital commitments closed earlier this month, the sponsors continue to accept subscriptions from potential investors. The second and final round of capital commitment is slated to close in the first quarter of 2022. For more information, please contact SVN | Urban Properties at info@urbanproperties.com.
Marli Quesinberry, founder of MQ Consulting and former Vice President of Investor Relations for Cousins Properties (CUZ), will co-sponsor the Fund and serve as Fund Administrator. Fishman Haygood was the legal counsel for the formation of the fund.
