When Kenneth Bacon first started his real estate investment firm, RailField Partners, in 2013, he thought he would stand out.
Bacon thought as a business owner of color, he’d be in demand — or so he kept hearing from folks awithin the industry. But it didn’t play out that way for the firm, which invests in multifamily properties in the Mid-Atlantic, Southeast and Texas and has transacted more than $215 million in multifamily real estate deals, including a 178-unit property in Suitland-Silver Hill.
“There are people out there willing to give you a shot, but I think there’s a perception that there are more opportunities than there are,” he says.
The Bethesda company started off in an emerging investment manager program offered by a large pension plan called New York State Common Retirement Fund. In January, the fund reupped its support for RailField with another $20 million in real estate commitments.
That was not long after Citi split $200 million last May among five…
Read the full story from the Washington Business Journal.
