NEBO has a relationship with a team of institutional joint venture specialists that recently parted ways from deploying equity capital for a Middle East Sovereign Wealth Fund – which is no longer able to put out new capital due to low oil prices.
The team has just completed raising their first $50M fund to deploy in JV equity investments. They will consider funding $2M-$15M of equity per deal for primary-to-tertiary markets in the southern half of the US. They have a preference for CO-GP situations, but will provide LP Equity and Preferred Equity as well. Their focus is on apartments, office, retail, mini-storage, and industrial. For LP equity, they are targeting 16-18% IRR returns for ground-up developments, and mid-teen IRR returns for value-add opportunities.
Their ideal partner candidate would be with an experienced local group or local industry professional who needs an institutional capital partner to help them to grow their platform.
They are flexible capital with a three person investment committee that can close equity deals in as quickly as 2-3 weeks.
Call Scott Saliterman of NEBO today for questions on this program.