February 23, 2007 - La Jolla, California-based Monarch Group today announced the closing of its debut opportunity fund, Monarch Partners I, L.P., with total commitments of $142.1 million. The fund will seek returns through the acquisition, entitlement, development, or redevelopment of undervalued land, multifamily, commercial, industrial, and mixed-use assets. The fund will invest primarily in the Western United States, with a focus on California, Arizona, and Hawaii. Most investments will equity of $10 million to $30 million.

Monarch Group’s founding partners are veteran real estate investors and developers Rodney F. Stone, William “Patrick” Kruer, George “Tim” Kruer, and Ryan E. Stone. Over their combined 130-plus years in the industry, Monarch’s founding partners have entitled over 2,500 acres of urban and suburban infill land for residential, commercial, industrial, and mixed uses and have developed over 8,100 residential units (including apartments, condominiums, senior housing, and single-family homes) and over 138,000 sq. ft. of office space in Western U.S. markets with high barriers to entry. Monarch Group and its principals intend to use the fund as their sole investment vehicle going forward.

Affiliates of Goldman, Sachs & Co. are the lead investors in the fund with an equity commitment of $100 million, and Monarch Group’s principals have committed a significant amount of the debut fund’s equity in order to align their interests with the limited partners.

Fundraising for the fund was overseen in-house by Masis Kevorkian, Principal, Investor Relations.
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