Boston-based Marcus Partners has raised $360 million for its newest fund with plans to acquire commercial real estate including industrial sites with redevelopment potential and life science properties.

Marcus Capital Partners Fund III LP will seek acquisitions in the Greater Boston and other East Coast markets.

The new fund will invest in office, medical office, life science, industrial and multifamily properties, said Ryan McDonough, a Marcus Partners’ principal and Boston regional director of acquisitions.

Marcus Partners recently acquired the Au Bon Pain headquarters and bakery in the Raymond L. Flynn Marine Park for a proposed 228,000-square-foot office-lab redevelopment. The firm also has agreed to purchase 310 Northern Ave., currently occupied by a Stavis Seafoods processing facility, and has begun preliminary talks with state and Boston officials about future options.

“We’re very comfortable in that submarket,” McDonough said. “We like the long-term life science play there and the clustering you’re seeing there.”

More than 80 percent of the investors in the firm’s previous fund, the $250 million Marcus Capital Partners Fund II, opted to invest in the new fund. Approximately 85 percent of the new commitments came from institutional investors.

Marcus Partners current portfolio totals approximately 7 million square feet, including 2.5 million square feet of industrial real estate in 13 buildings.

Marcus Partners Raises $360M for Newest Fund

by Steve Adams time to read: 1 min
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