Lion Real Estate Group (LREG) announced the successful close of its first institutional fund, Marble Partners Fund I, LLC, generating a 28.4% net internal rate of return (IRR) and a 1.9x multiple for investors despite operating through one of the most challenging multifamily real estate cycles in recent history.
Launched in 2017, Marble Partners Fund I raised $35 million in investor capital and leveraged co-investment equity to approximately $200 million. The fund ultimately acquired $505 million worth of value-add multifamily properties across Texas, the Southeast, and the Intermountain West during its investment period.
The portfolio consisted of 15 multifamily properties totaling 3,503 units across nine markets. Investments were located in Austin, Dallas, Durham, Chicago, Portland, Denver, Salt Lake City, Phoenix, and Atlanta.
According to the company, the successful performance of the fund demonstrates its ability to execute value-add multifamily investment strategies during a period marked by market volatility and industry headwinds.
Lion Real Estate Group said the experience and outcomes from Marble Partners Fund I continue to inform its investment approach as it manages Fund II and Fund III and prepares to launch Fund IV later this year.
Founded in 2007 by Mory Barak and Jeff Weller, Lion Real Estate Group is a vertically integrated real estate investment and management firm focused on value-add multifamily properties throughout the Sun Belt and Southeast United States. Since inception, the firm has transacted more than 117 properties representing over 15,000 units and $2.8 billion in transaction volume.
KEY QUOTES:
“The winding up of our Marble Partners Fund I represents an incredible milestone for Lion, especially having delivered such remarkable returns to our investors in the midst of an extended down-market cycle.”
Ben Kriegsman, Vice President, Global Capital Markets, Lion Real Estate Group
“We are proud to have delivered a 28.4% net IRR to our investors during a market cycle that has proven very difficult for many operators over the past three years. We’re confident that our strategy from Marble Partners Fund I, LLC and the lessons learned along the way continues to position us to drive performance for our Fund II, Fund III and future acquisitions as we prepare to launch Fund IV later this year.”
Jeff Weller, Co-CEO, Lion Real Estate Group
