Posted 8/4/2014 12:00 am
Updated 4 months ago
Little Rock’s CapRocq Core Real Estate Fund LP, a partnership that buys properties in the South and Midwest, has created a new real estate investment fund that has already raised $20 million.
CapRocq Core Real Estate Fund II LP filed its paperwork with the U.S. Securities & Exchange Commission on July 16, and it shows that the total offering is $100 million with a minimum investment of $250,000.
That fund lists its executive officers and directors as Kevin Huchingson, a co-founder and COO of CapRocq Core, Dewitt Smith, another co-founder of CapRocq, and Stephen LaFrance Jr. and Jason LaFrance. Huchingson is also president and CEO of Colliers International Arkansas. The LaFrances’ father, the late Stephen LaFrance Sr., built the USA Drug pharmacy chain and then sold it to Walgreen Co. of Deerfield, Illinois, for $438 million.
Smith told us that the new fund will focus on commercial properties.
“We’re guided by counsel not to say a bunch of stuff” at this time, Smith said.
He said a formal announcement is expected to be released before the end of September.
The original CapRock was founded in December 2012 and the fund has acquired more than $130 million worth of properties. The fund targets real estate that has been overlooked by large public real estate investment trusts and institutional investors.