GenX Capital Partners Managing Partner, Mark McClure, announced today they had closed on $12MM in joint venture equity for Stark Companies $65MM acquisition of the Belden Mall in Canton OH.
CLEVELAND, OH, October 16, 2017 /24-7PressRelease/ — GenX Capital Partners, a boutique real estate investment banking firm located in Miami, FL announced today they had closed on $12MM in joint venture equity for Stark Companies $65MM acquisition of the Belden Mall in Canton, Ohio, a 483,000 square foot asset with such national tenants as Kohls, PetSmart, DSW, Dick’s Sporting Goods among many others. This acquisition will add to Starks growing $1.5 billion portfolio.
“While our main focus is investing in and placing equity for multifamily and hospitality projects and not retail per se, we felt the sponsor and this deal were so strong we immediately took it on and placed it through one of our Texas based retail funds and their South African partners,” GenX Managing Partner, Mark McClure stated.
In addition to Stark Companies, one of the top retail and multifamily developers in the United States, GenX Capital Partners has recently closed several deals with The Millennia Companies, one of the Top 5 Multifamily owner/operators in the country, with more than 30,000 units in their burgeoning portfolio.
“While we are a boutique operation, the funds we deal with on a regular basis, both here in the U.S and abroad, allow us to handle much larger transactions and thus much larger clients then your typical boutique real estate investment banking firm. So we are fortunate to work with and be trusted by such industry leaders as Stark, Millennia and numerous others and hope to expand our presence into South America by mid-2018,” McClure added.
Drawing from various sources, including their own funds, GenX Capital Partners looks to provide equity and bridge debt from $2MM to $100MM into viable commercial real estate projects on a national basis, with primary focus on multifamily and hospitality. GenX Capital Partners also recently launched a “hard money” division to assist with smaller deals through their own private funds. For more information go to www.GenXCP.com and also www.GetHardMoneyFast.com
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