Westport, Connecticut-based Allura Capital LLC, the financial arm of Allura Global, has partnered with Targeted Real Estate Equities LLC and Holly Pond Capital LLC to launch The Valorem Group LLC, which will sponsor a series of private equity real estate funds targeted at accredited individual investors.
In launching Valorem, the partner companies stated the new firm will provide invest opportunities for high-net-worth individuals (HNWI) looking for alternatives to traditional stock and bond portfolios. Valorem is now raising money for its first fund, and its first closed transaction was a build-to-suit, 30,000-square-foot medical office building in Bristol, Connecticut, a suburb of the state capital Hartford, with an unnamed Fortune 50 company signing a long-term lease for the entirety of the space.
“Real estate has always been an area we found compelling and sought to expand into,” said Marcum King, managing director at Allura. Teaming with Targeted and Holly Pond, we now have the infrastructure and experience we need to offer a first-class product to a market that has a clear gap in its offerings.” King added, “It is a great time to be launching our first real estate fund, as the current real estate market – which is in a period of flux – will provide ample opportunities to provide attractive, risk adjusted returns.”
Valorem has closed on its first transaction: a build-to-suit, 30,000 sf medical office building in Bristol, CT (a suburb of Hartford, the state’s capital). Valorem’s client is a Fortune 50 company that signed a long-term lease for the entirety of the space. Currently, Valorem is raising money for its first fund that has several attractive investment opportunities in its pipeline.
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