Former Phoenix Capital Partners executives Travis Furr and John Turner have established a new private equity real estate firm, Rockbridge Partners. The Dallas-based firm will target middle-market real estate investments across all major commercial property types in the US and is expected to close its first investment this summer.
Rockbridge’s investment strategy will center on the acquisition, redevelopment and new development of real estate assets through joint ventures with operating partners. Its team will work on originating and underwriting potential investments, providing asset management services and devising investment exits for its clients.
Furr and Turner previously worked together at Phoenix Capital Partners, a Dallas-based private equity real estate firm focused on providing equity to middle-market operators in the US. A 10-year veteran of the firm, Furr most recently was a partner with responsibility for new investments, asset and portfolio management and long-term growth objectives for the company. He also was a member of the investment committee.
Meanwhile, Turner served as managing director and general counsel from April 2011 until last month. He primarily was responsible for the capital-raising efforts for all of Phoenix’s investments, as well as sourcing and analyzing potential investments and performing various internal legal functions.