Tysons, VA, December 14, 2021 – SteeleHarbour Capital Partners has successfully completed the final closing of its inaugural fund – SteeleHarbour Strategic Opportunities Fund LP. The fund received capital commitments from a diverse group of investors, including high-net worth individuals, family offices and registered investment advisors.
The fund is focused on general partner equity, preferred equity and mezzanine debt investments in value-add, development and opportunistic strategies. With a focus on mid- to long-term capital appreciation and protection, the fund’s investment thesis is centered around investing in multifamily development and value-add acquisitions and select value-add office acquisitions primarily in secondary markets in the Southeast and Mid-Atlantic United States. SteeleHarbour expects the fund to acquire total assets under management in excess of $750 million during its investment period.
“With over 50% of the Fund’s capital already invested or committed and the opportunity to capitalize on significant tailwinds behind shifting population demographics and changing housing preferences, we have been fortunate to start realizing strong investment returns including return of capital early in the Fund’s lifecycle,” commented Christopher McGrew, Chief Executive Officer and Co-Founder of SteeleHarbour. “We remain optimistic that our off-market and relationship-based pipeline will continue to present attractive investment opportunities throughout the lifecycle of the fund.”
“The successful close of our Strategic Opportunities Fund is a testament to SteeleHarbour’s investment thesis and the confidence in our team that have the experience to adapt and capitalize on attractive risk-adjusted opportunities in this investment environment. Our strong relationships with our co-GP partners have been key to the execution of our investment strategy. We greatly appreciate the trust and commitment that our investors have placed in us, and we are excited about the future for the fund and the foundation of our platform,” said Deepak Hathiramani, Executive Chairman and Co-Founder of SteeleHarbour.
About SteeleHarbour Capital Partners
SteeleHarbour Capital Partners is a real estate investment firm focused on middle‑market strategic equity, preferred equity and debt investments with a primary focus on multifamily and office properties in high growth markets in the Southeast and Mid‑Atlantic United States. SteeleHarbour’ strategy is centered around identifying and investing in secular and cyclical trends, acting on proprietary insights and leveraging deep industry relationships and institutional experience to execute on investment opportunities. The SteeleHarbour senior team has collectively completed approximately $8 billion of real estate investment, financing and capital market transactions over the last 25+ years. For additional information, please visit www.steeleharbour.com.