Bancroft Capital Closes $6 Million Real Estate Equity Fund; Bancroft Opportunity Fund to Purchase $200 Million in Assets.Business Editors MANHATTAN BEACH Manhattan Beach, city (1990 pop. 32,063), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1912. It is a residential and beach community with an oil refinery and nearby factories that produce transportation and electrical equipment, computers, and pottery. , Calif.--(BUSINESS WIRE)--Aug. 13, 2002 Bancroft Capital, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced today the closing of the Bancroft Opportunity Fund I with total committed capital of $6.0 million. The Bancroft Opportunity Fund will partner with institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. to purchase over $200 million in "value-added" real estate assets in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century over the next 12 to 18 months. "Successfully completing the funding of our new investment vehicle during such an uncertain time for the financial markets validates the structure of our performance-based compensation model," said Doug McDonald, the firm's founder. "In light of the opportunities we see, the Fund should provide compelling returns to our new investors as well as our base of continuing partners whose contributions comprise over half of the Fund." Through the Bancroft Opportunity Fund, Bancroft will continue to focus its investment strategy on non-CBD office, light-industrial, R&D/laboratory and warehouse/distribution product types in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Colorado and Arizona. The firm currently owns, both outright and in partnerships, assets totaling over 850,000 square feet valued at approximately $85 million. Bancroft Capital has attained at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. success in real estate investment through a unique investment model whereby the company invests a meaningful amount of its own funds in every transaction, eschews up-front fees typical of its competitors, and returns 100% of investor capital before any of its own. Bancroft has committed 10% of the capital of the Opportunity Fund from its own reserves and is targeting overall returns in excess of 25% annually. Bancroft Capital is a Manhattan Beach, Calif., real estate investment concern with over $200 million in acquisitions to date. Institutional partners have included ING Barings, Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , the Massachusetts State Carpenters Pension Fund, and Investcorp. The company celebrates its 10th anniversary on Sept. 18, 2002. Additional information can be obtained at Bancroft Capital's website: www.bancap.com. |
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