Northstar Commercial Partners has launched the $125 million Northstar Integrity Growth Fund in partnership with Integrity Trust of Colorado Springs, Colo.
The open-end fund is structured as a REIT focusing on 75 percent value-add and 25 percent cash-flowing commercial real estate investments in primarily Western growth markets, including but not limited to Arizona, California, Colorado, New Mexico, Texas and Utah.
Brian Watson, CEO and founder of Northstar, said, “Launching a structured fund was the natural evolution for Northstar and Integrity. Together, we have successfully executed on 38 transactions, with a value in excess of $130 million over the last several years, generating a median annualized return in excess of 21 percent.”
The launch of the fund will target commercial real estate assets with at least a 30 percent discount to replacement cost. Due to growing market uncertainties in the coming months, Northstar and Integrity Trust hope the f
