Head of The Peebles Corporation to launch $350M REIT

Don Peebles, head of development giant The Peebles Corporation, plans to launch a $350 million real estate investment fund.

Peebles began raising capital for the fund, which will invest in Peebles’ own projects as well as developments by “emerging mid-sized developers” in several major U.S. cities, including New York.

The fund, which will solely provide equity and raise capital from institutional investors, is set to launch in the second or third quarter of 2015.

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While the Peebles Corporation generally focuses on larger projects with a price tag of more than $100 million, the new fund will scoop up smaller deals.

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