Shockoe-based firm caps $26M real estate fund
A downtown wealth management firm’s real estate investment spinoff has closed out its latest eight-figure fund – and already is putting the money to work.
Haxall Point Partners, an offshoot of Canal Capital Management, last month capped its second pooled investor fund, raising $26.5 million from 65 investors.
Created by Canal Capital founders Noah Greenbaum and Neil Gilliss, Haxall Point Partners aims to co-invest with real estate owners and operators on commercial properties mostly around the Mid-Atlantic and Southeast regions. It looks to either take ownership stakes in properties or be an extra equity partner to a buyer.
Haxall’s first fund, which raised $10 million from about 40 investors in a round that closed in early 2016, invested in a mixed-used development in Georgia, a townhouse development in West Virginia, a mobile home park in Indiana, and locally, a portfolio of Innsbrook office buildings owned by Lingerfelt Cos.