Texas-Based Value-Add Fund Reaches $610M

Endeavor Real Estate Group, 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 the EOP III intends to pursue a value-add investment strategy by creating a portfolio of diverse real estate assets across various sectors, including but not limited to the development or acquisition of multi-family, industrial, retail, and mixed-use properties. The Fund anticipates making 20 to 25 investments, each sourced and executed by Endeavor. 

The $610 million is anticipated to yield a total anticipated capitalization, including anticipated leverage and co-investment opportunities, in excess of $1.5 billion.

Endeavor is at the helm of converting the Austin American-Statesman building (see photo) into a mixed-use project including housing, offices and a hotel. The Group is also heading up the redevelopment of the onetime Borden Dairy site into housing, retail, offices and a hotel.