GenX Capital Partners Spearheads Multi-State Real Estate Developments, Secures Major Financing

GenX Capital Partners

GenX Capital Partners, a prominent financing and development firm, has once again demonstrated its prowess in the real estate sector by closing over $100 million annually in debt and equity financing. The firm, known for its strategic investments in “best in class” real estate developments, is making significant headway with over $150 million in ongoing projects across New England, Florida, and Texas.

Additionally, GenX Capital is expanding its horizon with plans to venture into the hospitality sector in Tuscany, Italy, in the summer of 2024.

Maine Developments

Among the firm’s notable projects is The Mark at Cumberland Foreside, a 45-unit condo development near Portland, Maine, and Luxury Motor Toys, a 40-unit high-end auto storage condo in Gorham, Maine, set to commence construction in the summer of 2024. These projects underscore GenX Capital’s innovative approach to real estate development and investment.

In a recent move, Mark McClure, Managing Director of GenX Capital Partners, successfully secured a $3.2 million cash-out refinance for a 336-unit development in Ft. Myers, slated to break ground in late 2024. This project, benefitting from a $28.5 million ground lease, is part of a larger $87 million initiative that showcases the firm’s capacity to leverage financial partnerships for substantial real estate ventures.

“The client has vast experience, a strong track record of success, and all pieces in place to begin construction,” McClure stated, emphasizing the strategic and financial acumen that GenX Capital brings to the table. The firm continues to seek opportunities to finance bridge deals across various asset classes, including self-storage, multifamily, retail, and hospitality, with minimum check sizes of $10 million, along with select equity deals.

Seasoned Professionals

With dual headquarters in Miami, Florida, and Portland, Maine, GenX Capital Partners is led by a team of seasoned professionals including McClure and CFO Paula Wallem. Together, they oversee GenX Hotel Capital, the firm’s dedicated arm for hospitality lending and investing, marking a significant expansion of their investment portfolio.

As GenX Capital Partners continues to build on its impressive track record of successful developments and financial acquisitions, the firm is poised for further growth in the real estate market, both domestically and internationally.

Summary: GenX Capital Partners secures over $100 million annually in financing, advancing real estate projects across the US and planning expansions in Italy. Recent achievements include a $3.2 million refinance for a project in Ft. Myers, showcasing their strategic investment prowess.

GenX Capital Partners Key Takeaways

  • Closed a $3.2 million cash-out refinance for a 336-unit development in Ft. Myers.
  • Secured $28.5 million in ground lease proceeds towards the $87 million project.
  • Project set to break ground in late 2024.
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Alan Gray

Alan Gray is a business writer and a graphics hacker who loves to craft interesting stories and pair them with descriptive images that he creates on his Mac. He used to be a Windows freak, but after Vista destroyed his enjoyment by crashing 2-3 times per day, he decided that it was time for a change. He says he never wants to go back.