Endeavor Real Estate Group, an Austin-based investment and development firm, has closed a $610 million private equity fund. Called Endeavor Opportunity Partners III (EOP III), the Fund will be invested in commercial real estate opportunities with a particular focus on Central Texas. Commercial Search reports that EOP III intends to pursue a value-add investment strategy by creating a portfolio of diverse real estate assets across various sectors including multi-family, industrial, retail and mixed-use properties. The Fund anticipates making 20 to 25 investments sourced and executed by Endeavor which is anticipated to yield total capitalization of over $1.5 billion when considering leverage and co-investment opportunities.
Endeavor is currently leading the redevelopment projects for two iconic sites in Austin – the former Borden Dairy site into housing units, retail outlets offices as well as hotel space; while also converting the historic American Statesman building into mixed use project featuring housing units , office spaces along with hotel accommodation .
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