ROSEVIEW EVERGREEN FUND & PM REALTY FORM $250M FUND
BOSTON — Roseview Evergreen Group, on behalf of the Roseview Evergreen Fund, and PM Realty Group have formed Roseview-PMRG Fund I LLC, a $250 million discretionary fund to acquire and reposition properties across the United States. The fund seeks to acquire and reposition existing office assets, which can we acquired below replacement cost, by investing capital to upgrade building common areas and mechanical systems and to fund tenant improvements and leasing commissions. The fund plans to target mid-teens returns with total investment per asset of $15 million to $65 million in primary and secondary markets. The partnership has closed on its first acquisition, a 137,000-square-foot office building in the Greenway Plaza submarket of Houston, Texas.