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Belay holds $200m first close

by Andrea Waitrovich

Belay Investment Group has held a $200 million first close for its Belay Partnership Ventures II.

The fund is targeting $500 million to acquire properties with value enhancement potential pursuant to a focused investment thesis.

Belay Partnership Ventures II will pursue value-added real estate investment opportunities and strategies in the most compelling U.S. markets demonstrating sustainable real estate fundamentals, by forming partnerships with strong local operating partners to execute those strategies.

Belay deploys capital exclusively through nondiscretionary programmatic joint venture structures, designed to capture the investment capacity of its partners, including deal flow and partner resources. The manager believes this structure allows for greater control of investor capital and risk mitigation as well as improved transparency into the operating platforms of the fund’s partners — characteristics not typically available in one-o

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