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Tyler-Donegan targets US distress with new fund

The vehicle, Mid-Atlantic Capital Fund, is the first real estate opportunity fund for the Frederick, Maryland-based real estate company.

Tyler-Donegan Real Estate is targeting distressed and value-add opportunities in the US with its recently launched vehicle, Mid-Atlantic Capital Fund.

The Frederick, Maryland-based real estate company is targeting $20 million for the fund, the company’s president, Chad Tyler, told PERE. It is expecting leverage of between $60 million and $70 million in purchasing power.

Tyler said the fund was expected to make its first deal in the first quarter of 2009. Current market conditions are presenting “unprecedented buying opportunities” in the US, he said. 

On the residential side, the fund is targeting finished building lots and partially-finished or fully-finished condominium buildings. It will focus primarily on the Mid-Atlantic region of the US, specifically in Maryland, Virginia, Pennsylvania, Delaware, Washington DC, North and South Carolina and Florida. 

The Mid-Atlantic Capital Fund is also looking at value-add opportunities in the US office, retail and industrial sectors.

The vehicle is expected to close in 2009.