Endeavor Real Estate Group, an Austin-based investment and development firm, has closed a $610 million private equity fund called Endeavor Opportunity Partners III (EOP III). The Fund will be invested in commercial real estate opportunities with a particular focus on Central Texas. Commercial Search reports the EOP III intends to pursue a value-add investment strategy by creating a portfolio of diverse real estate assets across various sectors including multi-family, industrial, retail and mixed-use properties. The Fund anticipates making 20 to 25 investments that are sourced and executed by Endeavor.
The $610 million is expected to yield total capitalization exceeding $1.5 billion when taking into account anticipated leverage and co-investment opportunities. Endeavor is currently leading the redevelopment of two major projects in Austin – converting the former Austin American Statesman building into mixed use housing/offices/hotel as well as redeveloping the Borden Dairy site for housing/retail/offices/hotel purposes – demonstrating their commitment towards value add strategies within Central Texas’ commercial real estate market .
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