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Equipped with $875 million in investments, Boston-based Marcus Partners is targeting the relatively stable industrial and multifamily sectors to expand its portfolio.
The Boston-based developer closed on its Marcus Capital Partners Fund V, which set an initial target of $750 million.
“It’s a very challenging fundraising environment more broadly, and we feel fortunate to be an exception in this environment,” Patrick Sousa, Marcus Partners’ chief operating officer and head of capital, said in an interview. “Returning capital back to investors has been a really important theme.”
The fund could catalyze up to $2.5 billion in total transactions, including leverage and partnerships with equity investors on larger transactions, Sousa said.
The fund will invest in properties from southern New Hampshire to Georgia.
In the multifamily sector, Marcus Partners will target acquisitions of existing apartment properties in the Southeast, and development in other markets in a role as general partner or limited partner. The firm is in predevelopment for at least two multifamily projects in suburban Boston.
In the industrial sector, Marcus Partners plans to focus on last-mile type logistics properties in larger metros, light industrial space, outdoor storage and some build-to-suit manufacturing facilities, Sousa said.
Thus far, the fund has acquired two properties: the 538,500 square-foot Creekside Distribution Center and the 280-unit Panther Riverside Parc apartment complex, both in Atlanta.
Endowments, pension funds, foundations, health care institutions and some high net worth individuals invested in the fund, Sousa said.
Marcus Partners has taken a conservative approach in investing previous funds, with leverage ratio of approximately 52 percent, he said. Geographic diversification also will be a priority for the new investments.
“We’ll have a well-balanced portfolio between the Northeast, mid-Atlantic and the Southeast, and that will be very deliberate,” Sousa said.
After a four-year decline, private real estate fundraising rebounded to $222 billion in 2025, up 29 percent, according to a report issued in January by PEI Group. Closings of big funds sponsored by Brookfield and Blackstone drove the increase. The two firms raised 16 percent of total capital during the year.
Value-add funds comprised just 22 percent of fundraising in 2025, down from 30 percent in 2024.
