Primestor Targets $300 Million for The Urban Vision Fund I to Deliver Transformative Real Estate in Urban, Minority Communities

Minority-Led Firm Secures Up To $165mm In Capital Commitments For Urban Vision Fund

LOS ANGELES, April 26, 2023 /PRNewswire/ --Primestor Development ("Primestor"), a leading minority-owned and minority-led urban impact real estate developer and investor, today announced that it held its first closing for The Urban Vision Fund I, anchored by an equity commitment through Belay Investment Group ("Belay") of up to $100 million and a $25 million equity commitment from LGT Capital Partners.  Belay is a Los Angeles based women-owned and led real estate investment management firm with over $900 million of assets under management, primarily on behalf of a large California based pension plan.  LGT Capital Partners is a leading alternative investment specialist with over USD 85 billion in assets under management and more than 600 institutional clients in 43 countries.