Rubicon Point Invests Up to $ 770M in First US Real Estate Fund | news

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Rubicon Point Partners plans to invest up to $ 770 million (€ 650 million) in real estate projects in the United States on behalf of its first fund.

The San Francisco-based real estate investment firm said its Rubicon First Ascent LP fund raised $ 232 million after receiving capital commitments from institutional investors, including donations from universities, foundations, family offices and pension funds.

The manager said the value-added fund, which targets equity investments in the San Francisco Bay Area and Pacific Northwest, has the potential to acquire up to $ 770 million in real estate investments.

The fund has so far committed 35% of its capital to new investments, including two projects in the Bay Area and one in the Puget Sound submarket, Rubicon Point said.

Ani Vartanyan, Co-Managing Partner of Rubicon Point Partners, said: “I am immensely proud of the success of the Rubicon team to date, the evolution from investing first with the fund, then with Canyon Partners through the merger manager program, and now to the successful closure of our inaugural fund; it was humble, exciting and a testament to the strength, dedication and heart of our team.

“With the office asset class hitting an inflection point, Rubicon sees an opportunity for the type of creative investment management experience we excel at: creating a competitive edge by reimagining the office for a wide range of clients.”

Razmig Boladian, co-managing partner of Rubicon Point Partners, said: “We are once again ready to actively pursue acquisitions involving property owners, developers and lenders to capitalize on the current environment and provide high returns for investors.”

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