Atlanta – February 9, 2021 – Atlanta-based Access Private Capital, the private equity arm of Berkeley Capital Partners, announced today the funding of its latest GP real estate fund totaling $20 million. The fund has invested alongside several institutional partners led by Dallas-based Montgomery Street Partners and a Fortune 500 insurance carrier to launch Ground Lease REIT (GLR), a private REIT that plans to deploy $1 billion toward the initiation and assembly of senior, unsubordinated ground leases across various commercial real estate asset classes in top US metropolitan markets.
“Though the ground lease concept has been around for some time, its modernized application has only recently allowed for investment-level scale,” remarked Tony Palazzo, Managing Director of Access Private Capital. “We’re pleased to offer our investors an opportunity to capitalize on the growing adoption of this capital structure.”
“We believe ground leases to be an efficient and accretive financing alternative for real estate owners and developers,” commented Murray McCabe, head of Montgomery Street Partners. “Equally, we believe this is an extremely compelling opportunity for investors to gain access to long-duration, inflation-protected real estate assets that are cycle-tested.”
Access Private Capital’s GLR investment complements the firm’s $25 million position in a private single-family rental REIT initiated in 2018 that has since scaled from 4,100 homes at inception to nearly 10,000 homes over the last two years.