Meet Moonwater Capital:
The Private Equity Firm Who Just Acquired a $113MM Portfolio of Seven Office Buildings
In its tenth acquisition within a year’s time, Moonwater Capital adds 444,952 square feet of Class “A” office space to its rapidly expanding portfolio.
By SV Advisory Group
Founded in 1997 by Ofir Hagay, Moonwater Capital is a premier private equity real estate fund with corporate offices located in Las Vegas, NV. Moonwater Capital specializes in value-add investments, particularly real estate properties in the greater Las Vegas and surrounding metropolitan areas. According to RealPage/MPF Research, “value-add investment is an intriguing and timeless concept with optimum ROI opportunity.” Through years of company-wide success, Moonwater Capital takes this “timeless concept” and creatively applies it to the real estate marketplace.
The company leverages its deep knowledge, relationships and global experience to identify, secure and profit from strategic real estate projects; real estate projects that also encourage job creation and community development.
On August 22nd, Moonwater Capital acquired two highly coveted Las Vegas, Nevada Class “A” office building portfolios, Summerlin Office Portfolio and Town Square. The portfolios consist of seven total properties. Both acquisitions are located at the crossing of the I-15/215 Beltway and Summerlin Pkwy, which has become the preeminent office market in Las Vegas; Las Vegas being amongst the top cities in the United States for new and lucrative business opportunities. The city recently overtook Seattle for the title of hottest real estate market in the country.
“There is a reason for the city’s reemergence; after 2007’s downturn, Las Vegas has rebranded itself as an affordable, business and family friendly locality. No longer just a destination, with the cities transition comes opportunity. We are in the midst of a transformative revival!” – Ofir Hagay, CEO of Moonwater Capital
Moonwater Capital secured a $103.8MM monetary package to acquire the portfolios with financing arranged by Dekel Capital, a Los Angeles-based Real Estate Merchant Bank. Dekel Capital has now sourced a total of $171M of equity and debt for Moonwater Capital over the past twelve months. The financing package consisted of a favorable $82.8MM floating rate senior loan provided by Prime Finance and $21MM preferred equity from a subsidiary of Colony Credit Real Estate, Inc., a multi-billion dollar commercial real estate credit REIT with headquarters in Los Angeles, California.
As part of the GP Equity for the transaction, Moonwater Capital partnered with GY Rainbow Holdings, a subsidiary of private equity management group Yamagata Enterprises Family Office. The company and its diverse partners have commercial and residential properties in greater Las Vegas as well as a portfolio of real estate holdings in Utah, Colorado, Arizona and Minnesota.
Rounding out the year’s ten-property acquisition would be the three-building 290,007 square feet of Class “A” office space, Montecito Tower and Spanish Ridge, also located in various Las Vegas sub-markets. Moonwater Capital purchased the buildings for a combined $65.8MM and is currently in the final phase of leasing up the properties.
Las Vegas has officially reemerged from a decade long real estate slump, and Moonwater Capital has positioned itself to seize upon the various opportunities. As the city continues to recover, investors, builders and developers like Moonwater Capital are finding ways to shape the evolving city.