McClure, GenX Capital Partners Close Equity for $65MM Canton, OH Mall Acquisition
The Miami, Florida based real estate investment banking firm closes $12MM in JV equity for Stark Companies $65MM acquisition of the Canton, Ohio-based Belden Mall
MIAMI, October 13, 2017 (Newswire.com) - GenX Capital Partners, a boutique real estate investment banking firm located in Miami, Florida announced today they had closed on $12MM in joint venture equity for Stark Companies acquisition of the 483,000 square foot Belden Mall in Canton, Ohio. The asset, with tenants such as Kohls, PetSmart, DSW, Dick’s Sporting Goods among many other national tenants will be a nice addition to their 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,” GenX Capital's Managing Partner, Mark McClure stated.
In addition to Stark Companies, one of the top retail and multifamily developers in the United States, GenX has recently closed several deals with Millennia Companies, one of the Top 5 Multifamily owner/operators in the country with more than 30,000 units.
“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. For more information go to www.GenXCP.com.
Source: Todd Stanton