LeBlanc and Stacy Launch CapRidge Partners in Austin
New Venture To Target Value Office Acquisitions Throughout Texas
November 14, 2012
Steve LeBlanc, a former senior managing director of private markets for Teacher Retirement System (TRS), and Tom Stacy of T. Stacy & Associates have formed a new value office investment and management company based in Austin.
The new venture, CapRidge Partners, LLC , will focus on acquiring and repositioning office properties in Austin, Dallas, Houston and San Antonio.
"This partnership will take what we have been doing independently for the past several years, combine it and expand it," said Stacy.
The partners have secured an initial institutional commitment of $30 million of equity from an undisclosed public institutional investor. The new venture has its first acquisition under contract and expected to close within the next 45 days, with plans to pursue other acquisitions throughout the state.