Marble Capital, a Houston-based investment manager focused on multifamily development, has closed its second fund with $250 million in capital commitments, exceeding the fund’s initial target of $150 million. The company’s debut fund closed just two years ago at $100 million.
The Fund manager provides primarily preferred equity to experienced developers who build in high-growth markets across the U.S. The Fund seeks to provide $5 million to $20 million in capital per project, selecting projects that fall under the radar of most institutional investors.
The Fund has already closed or committed to 16 projects representing $160MM and expects to place the remaining capital in 2020.
Since its inception in 2016, Marble Capital has invested in ~7,000 units worth 1.3 billion in total capitalization. The company’s founding members have decades of experience working in real estate finance, capital markets, development and operations, all with a multifamily focus. This experience has created long-standing relationships with multifamily developers and brokers nationwide, giving the firm a unique ability to access and identify attractive investment opportunities.
“Our strength is in our relationships, both with our investors and our developer partners,” Marble Capital President, Carson McDaniel said. “We are excited about the geographic and sponsor diversification in Fund II as well as the return profile in a historically stable asset class.”