Trion Properties launches Multifamily Opportunity Fund III. on


The managing partners of Trion Properties, Max Sharkansky and Mitch Paskover (Trion Properties, iStock)

Trion Properties has launched its third fund to invest in value-added multi-family properties as it expands in the West and Southeast.

Via the Multifamily Opportunity Fund III, Trion, based in Los Angeles, plans to raise US $ 75 million equity with US $ 200 million purchasing power. The minimum contribution is $ 50,000.

The company will focus on properties up to 50 years old and undertake extensive renovations to add amenities such as pools and gyms, said Mitch Paskover, Trion managing partner. He runs the firm together with the managing partner Max Sharkansky.

The multi-family investment market has remained strong over the past year. Among its major deals in recent times, Blackstone Group paid $ 1 billion in May for a 5,800-unit apartment portfolio in San Diego.

Paskover described the multi-family market as a “safe haven” for investors.

Trion’s target investors are high net worth individuals, family offices and foundations, he said. Larger investors such as pension funds have not yet participated.

Fund III will acquire between eight and twelve condominiums over the next two years. Trion will manage these properties and hold them for up to eight years. The fund recently made its first purchase, a 68-unit complex in Portland, Oregon.

Trion plans to open an office in Miami soon and is closely examining properties in Tampa, Florida and Charlotte, North Carolina.

In 2019, Trion and Ketter Group applied to build a 58-unit development in LA

Three years earlier, Trion had launched a $ 100 million multi-family fund targeting LA, the Bay Area, San Diego and Portland.

The company owns 19 residential buildings in California, Colorado and Oregon.

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