Houston-Based Marble Capital Enters Into Partnership Agreement with Navigator Global Investments
Marble Capital, a Houston-based investment advisory firm focused on multi-family rental housing across the United States, announced today that the firm has signed definitive agreements to enter into a partnership with Navigator Global Investments (ASX: NGI). The transaction is expected to close in late April 2022. In the deal, Navigator will purchase a minority stake in the business and become a passive, non-voting minority partner. Most of the capital will be used to support Marble Capital’s near term growth initiatives, including funding larger general partner commitments to Marble Capital funds...
Marble Capital Raises Over $650M For Multifamily Development Investments
Houston-based Marble Capital recently closed on its third multimillion-dollar real estate investment fund at more than $650 million in commitments. The company said it had initially set out to raise $350 million for Marble Capital III. Holland & Knight LLP served as outside counsel to the fund. In line with Marble Capital's previous investments, Marble Capital III will focus on preferred equity investments in U.S. multifamily developments, with a large presence in Sunbelt Markets...
Houston-Based Marble Capital Closes Its Third Fund North of $650 Million
Marble Capital is pleased to announce the successful closing of Marble Capital Fund III (‘The Fund”) with over $650 million in commitments. The Fund was significantly oversubscribed based on its initial target of $350 million having received unprecedented support from both new and existing investors...
Houston Firm Raises $250M Fund for Multifamily Development
A Houston-based investment manager focused on multifamily development raised hundreds of millions of dollars for its second fund. Marble Capital LP closed its second fund at $250 million, exceeding the fund's initial target of $150 million, according to a Dec. 18 press release. Marble Capital's first fund closed two years ago at $100 million. Marble Capital primarily provides preferred equity to experienced developers in U.S. growth markets, the release notes. Marble Capital's second fund aims to provide between $5 million and $20 million in capital for each project. The fund has already closed or committed to 16 projects valued at $160 million, and the firm expects to deploy the remaining capital in 2020...
Multi Family Shop Closes 2nd Fund
Marble Capital last week wrapped up its second value-added fund with $250 million of equity - $100 million more than the target. The Houston investment manager is shooting for a 12-14% return by supplying capital to multi-family developers. It typically provides preferred equity with coupons of 13-15%, but also invests in common equity. The manager kicks in $5 million to $20 million on individual projects, with the developer retaining a minority stake. Factoring in leverage and partner capital, the fund could hold stakes in more than $1 billion of investments...
