Trinity Capital Advisors Begins Fundraising for Trinity Capital Value Fund III
March 10, 2011
Charlotte, NC – March 10, 2011
Trinity Capital Advisors has begun fundraising for Trinity Capital Value Fund III, the firm’s third real estate investment fund since 2005. Trinity’s first real estate fund is fully invested, and Trinity Capital Value Fund II is 70% invested and will continue investing through June 2011.
“In 2010, we saw a crack in the proverbial dam of deal flow, and we think 2011 and 2012 will continue to offer the tremendous investment opportunities that began to open up last year,” said Gary Chesson, Trinity principal. “We created Fund III with that momentum in mind.” Chesson added that Fund III investors will consist of both individuals as well as larger, family office type investors.
Trinity Capital Value Fund III, LLC (“Fund III”) is a value-added real estate fund focusing on the acquisition, development and redevelopment of office, industrial, and mixed use properties in North Carolina, South Carolina, Virginia, Georgia, and Tennessee with emphasis on the metropolitan markets of Charlotte, Raleigh, Greensboro/Winston Salem, Greenville/Spartanburg, and the port markets of Charleston, Norfolk, and Savannah. “The positive demographic trends and employment growth we’re seeing in the Southeastern U.S. draws us to these particular markets,” says David Allen, Trinity principal. “They’re great places to live and work, making them ideal for Trinity’s investments,” said Allen. “And the projected increase in East Coast container traffic makes the port markets terrific areas for investment in the coming years.”
The Fund will be a $35,000,000 offering through the sale of units in a minimum amount of $100,000 per unit, and will invest in several ways, including through direct investments, providing capital for other owners and developers, and through joint ventures with institutional equity partners. The fund will also purchase bank debt as a means of acquiring real estate. In 2010, over half of the firm’s investments were made through purchasing existing bank notes as a way to acquire title to real property assets.
Since 2001, Trinity Capital has acquired or developed 25 office, industrial or mixed use properties totaling 3,700,000 square feet, and $330 million in cost with $127 million of total equity invested. Notable projects include Ally Center, NASCAR Plaza, Perimeter Woods, Westlake Business Park, Capital Center, and Trinity Commerce Center.
Trinity Capital invests in and owns office, industrial and mixed use real estate in Charlotte, Raleigh, Charleston, and Greenville, South Carolina. Recent acquisitions during 2010 include the 390,000 square foot NASCAR Plaza office building in Charlotte; the 157,000 square foot Capital Center office building in Raleigh; and a 400,000 square foot industrial facility and 24 acres of land in Charleston, SC.
Please visit us at www.trinitycapitaladvisors.com.