Exciting Developments in Charlotte: PointBlank Ventures Launches New Investment Fund
Charlotte is buzzing with new developments in the commercial real estate scene! A local firm called PointBlank Ventures is stepping up its game by launching an investment fund. Founded in August 2023 by managing partner Jared Londry, this company is on a mission to expand its business capabilities in some innovative ways.
What’s Cooking at PointBlank?
New Fund on the Horizon
PointBlank is gearing up to raise between $30 million and $50 million for its inaugural Co-GP fund. The firm aims to complete this fundraising by the second quarter of 2025. Londry mentioned that they are particularly interested in targeting multifamily, mixed-use, self-storage, and industrial outdoor storage assets valued between $10 million and $100 million. Sounds intriguing, right?
Building Partnerships Instead of Competition
As Londry explains, they want to be seen as an ally and a resource for operators in the real estate space. “Operators weren’t viewing us as a competitor but as an ally or a resource,” he said. This shift in perspective is crucial as demand from both operators and capital sources in the booming Sun Belt region continues to grow. Recognizing this need, PointBlank decided to formalize their approach to becoming a significant player in the marketplace.
Meet the Team
Key Personnel Changes
Recently, PointBlank made some exciting personnel changes to push their agenda forward. David Cockey, the Chief Operations Officer, was appointed as a partner, and Marc Munichman was brought on board as partner and Chief Investment Officer. With 17 years of experience under his belt, Munichman is set to lead all investment activities. His responsibilities include developing strategies, growing capital relationships, and overseeing the investment management side of the business.
The Big Goals Ahead
Under Munichman’s leadership, PointBlank intends to scale its capabilities quickly. Londry expressed a sense of optimism, stating, “Marc’s leadership will be instrumental in expanding our investment management platform and scaling our capabilities to meet partner demand.” The firm also has big plans, aiming to close $250 million to $300 million in acquisition transactions over the next 18 months.
Targeting Thriving Markets
One of the most exciting parts of their strategy is focusing on key Sun Belt markets, which include Charlotte, Raleigh-Durham, Charleston, and Nashville. Londry points out, “We aim to acquire assets with or without the fund, but we’ll hopefully have that vehicle available to use for those acquisitions.” This shows their flexibility and commitment to seizing opportunities.
Recent Successes
In the past year, PointBlank has already closed eight transactions. That includes four advisory transactions totaling $175 million and four co-general partner investments, two of which are right in Charlotte. One notable investment was their capital partnership in Ascent Real Estate Capital’s acquisition of Hub 933 at 933 Louise Ave. This mixed-use development, which recently sold for $11 million, showcases the firm’s active role in the community. They are also investing in the Tipsy Pickle, a pickleball entertainment venue anticipated to open soon at Camp North End.
Looking Forward
With PointBlank Ventures stepping into the spotlight, it’s an exciting time for commercial real estate in Charlotte. Their focus on innovative partnerships, significant market targets, and ambitious growth plans signal a bright future for the firm and the local economy. As they continue to develop their investment fund, it will be interesting to see how they reshape the landscape of real estate investment in Charlotte and beyond!
