![\"\"](\"https:\/\/icrowdnewswire.com\/wp-content\/uploads\/2020\/07\/4000-logo.png\"){kind=logo}
<\/p>\n<\/p>\n
Lucern Capital Partners (“LCP”), a real estate private equity firm based out of New Jersey<\/span>, announces the launch of Lucern Philadelphia Value Fund I, L.P. (“LPVF I”), a real estate investment fund focused on multifamily and mixed-use investments in the Philadelphia MSA. LPVF I is targeting a minimum equity capital commitment of $25 million<\/span>, with a targeted deployment of $75 million<\/span> in asset value with leverage.<\/p>\n The firm’s principals have been active in the Philadelphia MSA for the last decade, completing a multitude of transactions, the most recent of which was the acquisition of Del Campo Apartments in late 2019. After acquisition, Del Campo Apartments underwent a multimillion dollar renovation and was rebranded to Carriage Wheel Lofts. Located in the booming Northern Liberties neighborhood of Philadelphia<\/span>, Carriage Wheel Lofts is indicative of the firm’s historical strategy and execution. LCP will execute a similar strategy for acquisitions in LPVF I. The fund’s first acquisition is located in Center City<\/span> and expected to close early November.<\/p>\n “We are excited to continue our strong performance in the Philadelphia<\/span> marketplace. Philadelphia’s<\/span> story improves further with each passing year, and the data is supportive of long-term expansion of the rental market. With consistently strong wage and employment growth, and one of the highest concentrations of millennials out of large cities in America, Philadelphia’s<\/span> rental market is poised for long-term structural tailwinds that are supportive of our investment thesis. While broad reports of tenant exodus from major cities as a result of COVID-19 are exaggerated, cities like Philadelphia<\/span> are well positioned to benefit from telework\/remote employment trends. We continue to see applicants in our buildings that have left New York City<\/span> or New Jersey’s<\/span> “Gold Coast<\/span>” and are intrigued by Philadelphia’s<\/span> lower cost of living, vibrant food and nightlife scene, and easy accessibility to other large cities in the Northeast,” said Frank Forte<\/span>, Managing Partner and Chief Investment Officer of Lucern Capital Partners.<\/p>\n The firm which was founded in 2016, is active and focused on the Northeast and Southeast markets of the United States<\/span>, primarily New Jersey<\/span>, Philadelphia<\/span> and Carolinas MSAs. The firm seeks compelling risk-adjusted yields in the multifamily arena, investing in core-plus, value-add, and opportunistic return profiles.<\/p>\n For investor relations, please contact David Hansel<\/span>, Managing Partner and Head of Capital Management at david.hansel@lucerncapital.com or 732-875-1190 ext. 101. For other inquiries, or acquisition opportunities please visit www.lucerncapital.com, or email info@lucerncapital.com.<\/p>\n Tags:<\/b> David Hansel, Managing Partner and Head of Capital Management at\u00a0david.hansel@lucerncapital.com\u00a0or 732-875-1190 ext. 101.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"See Campaign: <\/strong>http:\/\/www.lucerncapital.com<\/a>
Contact Information:<\/b>
David Hansel, Managing Partner and Head of Capital Management atdavid.hansel@lucerncapital.comor 732-875-1190 ext. 101.<\/p>\n
<\/a>, Wire<\/a>, Wire Real Estate<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
Lucern Capital Partners (“LCP”), a real estate private equity firm based out of New Jersey, announces the launch of Lucern Philadelphia Value Fund I, L.P. (“LPVF I”), a real estate investment fund focused on multifamily and mixed-use investments in the Philadelphia MSA. LPVF I is targeting a minimum equity capital commitment of $25 million, with a targeted … Continue reading New Jersey Real Estate Private Equity Firm Launches Lucern Philadelphia Value Fund I<\/span><\/a> Continue Reading