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Q&A: Mark Degner: Managing director of acquisitions, Liquid Realty Partners June 18, 2010 02:27 PM

Mark Degner - Managing director of acquisitions, Liquid Realty Partners
Liquid Realty focuses on the real estate secondaries market, or buying out limited partners in real estate private equity funds. Does Liquid make only equity investments or will it buy debt?
Generally, we are buying an equity position in a fund. But, if we are recapitalizing, it could be debt or equity because that could mean providing capital to a general partnership or property owner or employing rescue capital. It's a function of what works best for both sides.

Is there a target range for acquisitions?
Historically, our average deal size has been $40 million, but there is no upper limit to the size of our transactions. We can do as small as a $1 million. Our largest was £400 million. We prefer at least $10 million minimum.

How do you source your opportunities?
Most of our business comes from sellers who seek us. We look at ...

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