New firm launches $100m fund.

On the heels of the formation of real estate investment banking firm, Perseus Realty Capital (PRC) last April, Perseus Realty has formed a second company, Perseus Realty Partners (PRP), a fully-integrated, private equity, real estate investment management firm based in Washington, D.C.

Mark Dawejko and Paul Dougherty, who is the president of PRC, will serve as executive managing directors of PRP. They are joined by Francis P. Rooney, Jr., managing director, and Thomas J. Hofheimer, director. The new company's mandate is to achieve superior risk-adjusted rates of return for its investors, by taking an opportunistic and value-added approach to investing in middle market real estate properties.

To that end, PRP plans to launch Perseus Capital City Fund, a $100 million diversified real estate investment fund, which seeks to provide superior risk-adjusted rates of return, by investing alongside developers through joint venture equity, preferred equity, and mezzanine investments. The fund will be national in scope, with a focus on the greater Washington, D.C. metropolitan area and Mid-Atlantic region.

"We are very excited about the formation of Perseus Realty Partners," said Mr. Dawejko, "and feel confident that Perseus Capital City Fund will significantly assist clients in achieving their financial goals. We have assembled an extremely strong team, one dedicated to a relationship-oriented approach to investing, and one able to execute complex transactions earning above-market leveraged internal rates of return."

Together, Mark Dawejko, Paul Dougherty, Frank Rooney and T.J. Hofheimer have more than 60 years of combined experience in the commercial real estate financial services industry. All held senior posts at major financial institutions.