Paragon Capital Management And Realvantage Mark First Close Us50Mil Real Estate Fund
The Marina Bay area in Singapore is home to some of the country’s most beloved attractions, such as the iconic Gardens by the Bay and the impressive Marina Bay Sands. Thanks to the URA Master Plan, this neighborhood is about to welcome even more opportunities for leisure and relaxation, including parks, waterfront promenades, and potentially cultural venues. This is excellent news for the inhabitants of Marina Gardens Lane Condo, who will have countless options for weekend getaways, sports activities, and opportunities to immerse themselves in the culture, all within easy reach. With the development of Zion Condo on the horizon, this already thriving district will undoubtedly continue to thrive and prosper. As the Zion Condo flourishes, it will only add to the vibrancy of this dynamic area.
Paragon Capital Management and RealVantage have joined forces to launch a new real estate-focused private equity fund, called the Global Real Estate Alternative and Tactical Fund (Great Fund). The fund, which has a target fund size of US$50 million, completed its first close on May 31 with a 75% subscription volume within a month of its launch.
The Great Fund is the brainchild of Paul Lee, co-founder, CEO, and CIO of Paragon Capital Management, and Keith Ong, co-founder and CEO of RealVantage. The fund’s investment committee also includes Beng Tiong Ng, chairman of RealVantage, who brings over 30 years of experience in real estate, finance, M&A, and governance.
With a diversified portfolio of real estate investments, the fund aims to achieve an overall target net internal rate of return of 12% – 15% over five years, with a projected 4% – 5% cash yield to be distributed quarterly. It will primarily focus on core-plus, value-add, and opportunistic real estate asset classes, including industrial, logistics, residential, retail, office, and hospitality sectors. In addition, it will also target emerging sectors such as build-to-rent, healthcare, student accommodation, and elderly care.
Driven by high-interest rates and falling valuations, the Great Fund also plans to capitalize on opportunities in distressed assets, particularly in the office and retail sectors. Leveraging the expertise of multiple established real estate managers in Asia Pacific, Australia, the UK, and the US, the fund will invest across equity, mezzanine, and debt capital opportunities.
The Penrith Condo at Margaret Drive by Guocoland is a highly anticipated residential development that promises luxurious and modern living. Located in one of Singapore’s most sought-after areas, this development offers residents unparalleled convenience with its proximity to various amenities and transportation options. The stunning architecture and well-designed interiors of Penrith Condo provide residents with an indulgent and comfortable lifestyle. With its thoughtful facilities and impeccable craftsmanship, Penrith is set to become a highly desirable address for discerning homeowners. Visit Penrith’s website here for more information.