Loci Capital Exceeds Target for First Close of Opportunistic Fund
Loci Fund II GP, an affiliate of Loci Capital Group, a private real estate fund manager, announced the first close of Loci Capital Opportunistic Fund II, LP.
The close includes more than $53 million in subscriptions, more than double Loci’s target of $25 million and greater than the total size of the predecessor fund.
The fund includes Loci’s first institutional investor, as well as high net worth individuals, single and multi-family offices, RIAs, and wealth management firms.
Loci’s funds have a hybrid-GP fund structure, allowing fund investors the ability to share in the fees earned by Loci from third party joint venture partners while maintaining diversification lacking in traditional GP funds.
“The support our investor base has shown us in a difficult capital markets environment is a direct result of the team’s historical outperformance as well as the robust pipeline of opportunities we have access to,” said Casey Wilson, Managing Principal and Head of Investor Relations at Loci Capital. “With the first close completed, we now have 18 months, or through first quarter 2025, to raise the additional $200 million to hit our target raise.
Tampa-based Loci pursues a diversified strategy focused on making investments in the Southeastern US. The firm invests across asset classes and throughout the capital stack, targeting opportunistic returns.
The firm was co-founded in 2019 by CEO Michael Phillips and Patton Chillura, who had previously been leading investments for Lubert-Adler’s Tampa office. Loci has invested and/or managed over $3.6 billion of equity in over 245 real estate assets over the last 22 years.
