Nov
17
This is What Rock Creek Is Building On Spec for Fund II
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WASHINGTON, DC—Last week locally-based Rock Creek Property Group announced it closed on its second fund, raising or securing commitments of $60 million. Levered up, the fund is expected to have a total purchasing power of $200 million to $300 million, principal Gary Schlager tells GlobeSt.com.
So far fund II has made three purchases of properties that are being torn down and redeveloped on spec. They are illustrative of the fund’s duel mission approach of acquiring value add and/or income-streaming properties…
