OKC real estate funds rack up capital

Two Oklahoma City-based investment firms closed record-setting, multimillion-dollar real estate funds to acquire commercial property for accredited investors.

Hall Capital closed Hall Capital Real Estate Fund II LP at $75 million. It’s the largest of its real estate funds to date. The fund’s first acquisition was an office building in Charleston, South Carolina. The fund provides value to investors through appreciation.

Humphreys Capital raised $58 million in its annual offering of Humphreys Fund I LLC, the largest equity raise for the fund since its formation in 2012 — some 73% larger than in 2019. The real estate investment trust pays dividends from income-producing properties.

Hall Capital

Fred Hall, chairman and CEO of Hall Capital, said the firm continues with the principles that made its previous funds successful.

“In every fund we’ve ever done, we are one of the largest investors on the same terms as all other investors,” he said in a press release. “We are investors, first and foremost; we don’t pursue deals unless we are willing to invest our own money. That philosophy has been a core principle of our company for the last 100 years, and we won’t deviate the next 100 years.”

It’s Hall Capital’s fourth independent investment fund since 2006 and its second focused on real estate. The first one closed at $60 million in 2014 and has deployed its capital. Kirk Hall and Clay Moss of Hall Capital manage the new one, assisted by colleagues working out of offices in Oklahoma City, Tulsa, Dallas, Nashville, and Chicago.

“We look at many real estate deals before we choose the ones we pursue, and that conservative approach is why our first real estate fund was successful,” said Kirk Hall, vice chairman and CFO. “Ideally, we look for office and industrial investments in the $15-40 million range that have good operating history. Oklahoma, Texas, Tennessee and the Carolinas will be our main markets, but we look at all markets in the southeastern and southwestern U.S.”

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