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TITLE: Loci Capital secures $25m subscription line

DATE: August 23, 2023

PUBLICATION: Institutional Real Estate Inc. 


Loci Fund II, an affiliate of Loci Capital Group, has closed a $25 million capital call facility, with SouthState Bank as the sole lender.

“This facility will allow us to provide surety of financing for investments which are off-market and relationship driven at this point in the cycle,” said Michael Phillips, CEO and co-founder of Loci Capital. “In addition to helping to manage liquidity for the fund and its underlying investors, the facility will also provide us with additional flexibility to syndicate our investments, building on our track record of providing our investors with significant co-investment opportunities alongside their fund commitment.”

Loci pursues a diversified strategy consistent focused on making investments in the southeastern United States.

Loci’s inaugural opportunistic real estate fund began investing in October 2020 and fully allocated its $47 million of commitments earlier this year. Alongside Fund I, Loci raised and deployed an additional $176 million of joint venture and co-investment capital, demonstrating the firm’s ability to leverage its hybrid GP-fund structure to deploy and manage capital in scale.

SouthState provided a smaller facility for Loci’s inaugural opportunistic fund, which had its final close in October 2021.