Austin, Texas-based real estate investment firm CapRidge Partners has launched with a $30m institutional commitment.
Established by industry veterans Steve LeBlanc and Tom Stacy, the firm will focus on projects in Austin, Dallas, Houston and San Antonio.
LeBlanc is a former senior managing director of private markets for Teacher Retirement System, while Stacy founded commercial real estate firm T Stacy & Associates.
—who has been involved with some of Austin’s most iconic buildings—will concentrate on value-add office investments, which includes rehabbing buildings and finding the value in existing space.
CapRidge’s has already secured an initial institutional commitment from a “major, public institutional investor” and has its first acquisition under contract.
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