SAN FRANCISCO--(BUSINESS WIRE)--The Prado Group, a privately held real estate investment and development company, today announced the first $200 million closing of its Prado Alpha Fund. The Fund will raise up to $250 million from strategic investors for co-investment with best-in-class institutional joint venture partners. The Alpha Fund will make direct GP investments, GP co-investments, and direct investments.
The Alpha Fund’s founding co-investors include key strategic private investors from San Francisco, Silicon Valley, Seattle, Los Angeles, Texas, and New York. The Fund is targeting core-plus, value-add, and opportunity real estate in high-growth, knowledge-centric regions dominated by innovation ecosystems. The Fund’s investments will include primarily multi-family housing, retail and office.
“Over the last two decades, Prado Group has achieved very strong returns by aligning with forward-looking and connected partners while executing deep value-add strategies in dynamic high growth, high barrier markets,” said Zach Felson, Co-Chief-Investment Officer and Head of Acquisitions at Prado Group. “The data shows that the innovation regions, their world-class educational institutions, powerful venture capital infrastructure, and dynamic work-play environments will continue to attract the best and brightest companies, ambitious career builders, and financial change-makers who transform great ideas into enduring real estate demand.”
“Geolo Capital is proud to be one of Prado Group’s anchor partners alongside other key strategic investors who are driving much of the ideation and growth in the innovation regions. We look forward to supporting Prado’s winning strategy for the Alpha Fund and creating enduring partnerships with top institutional real estate investors,” said John Pritzker, Founding Partner of Geolo Capital.
The Prado Group is actively seeking new direct and co-GP opportunities within these innovative regions. For investment opportunities and submissions, please contact zfelson@pradogroup.com. For more about Prado Alpha Fund and Prado Group, visit PradoGroup.com.
About Prado Group
Prado Group is a privately held real estate development and investment management company with a primary focus on residential, retail, office, and mixed-use properties. To date, Prado Group has made over 80 investments which includes a development pipeline totaling $3.75 billion with $1.4 billion in realized investments. The company seeks in-fill, supply-constrained, innovation markets with high barriers to entry primarily in the Western Region. Prado Group's goal is Positive EvolutionTM: to enhance the communities we work in by creating high-quality, sustainable environments for people to live, work, shop, and relax. In each of our projects, our team seeks to create quality environments that will serve and inspire future generations. Prado Group pursues asset strategies that create sustainable value through asset management, development, repositioning, and property enhancement. For more, visit PradoGroup.com.
