AUSTIN, Texas, Nov. 14, 2012 /PRNewswire/ -- Two proven leaders in commercial real estate investment, Steve LeBlanc and Tom Stacy, announced today the launch of CapRidge Partners, LLC, a value office investment and management company headquartered in Austin, Texas. With nearly 40 years of experience between the founding partners, LeBlanc and Stacy hope to create the best value office investor in the state, primarily focusing on projects in Austin, Dallas, Houston and San Antonio.
As CapRidge Partners, LeBlanc—former senior managing director of private markets for Teacher Retirement System (TRS)—and Stacy of T. Stacy & Associates—who has been involved with some of Austin's most iconic buildings—will concentrate on value-add office investments, which includes rehabbing buildings and finding the value in existing space.
"The timing for this partnership is perfect given the opportunity for growth and investment in the major markets in Texas," Stacy said. "Steve and I have proven, long-term track records. This partnership will take what we have been doing independently for the past several years, combine it and expand it."
CapRidge Partners has secured an initial institutional commitment of $30 million of equity with a major, public institutional investor. With its first acquisition under contract and expected to close within the next 45 days, CapRidge Partners will continue to aggressively pursue further acquisition opportunities throughout the state."This partnership is the marriage of disciplined investment experience, operational excellence and exceptional customer service, along with a track record of success and respect from institutional investors," LeBlanc said. "I am excited about this partnership with Tom. I know it's going to be a valuable relationship for all involved."