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Legacy Partners has hired Greenwich, Conn., placement agent Atlantic-Pacific Capital to raise $250 million of equity for a core-plus fund
Real Estate Alert, March 17, 2004
Legacy Partners has hired Greenwich, Conn., placement agent Atlantic-Pacific Capital to raise $250 million of equity for a core-plus fund. The vehicle, Legacy Partners Enhanced-Core Office and R&D Fund I, will seek to produce an internal rate of return of 12-15% by buying office and multi-family properties in the western U.S.
Placement agents are often used to assist first-time fund sponsors like Legacy, which is based in Foster City, Calif.
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