New York & Tri-State + Midtown New York + Finance | July 21, 2022

Mandrake Capital Closes Fund Aimed at CRE Investments with ”Situational Dynamics”

New York-based Park Madison Partners announced the final close of Mandrake Capital Real Estate Fund, LP, with $268 million of total commitments. This is Mandrake’s first discretionary commingled fund, and limited partners include a diverse group of institutions, family offices, and high net worth individuals. Park Madison served as the exclusive placement agent.

The fund, which has already committed $168 million, intends to pursue real estate investment opportunities with situational dynamics and capital market inefficiencies, which Mandrake believes provide opportunities to acquire assets at discounts to their fair or efficient value.

“We look for deals that don’t fit neatly within a standard ‘bucket,’ perhaps due to the property type, business plan or misunderstood risk factors,” said Joseph O’Connor, managing partner of Mandrake. “We’re willing to do the work to find the hidden value in these deals, and historically that approach has paid off.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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