Ironton Asset Fund LLC (Ironton) was organized in April of 2009 by Exeter Realty Company to make investments in distressed real estate assets held by owners and lenders in the greater Minneapolis-Saint Paul region and other areas of the Upper Midwest. Its Sponsor Manager is Ironton Management LLC. Ironton completed raising its initial capital in July of 2009 and is actively seeking assets that offer “value add” and “opportunistic” potential over a five-year time horizon. Ironton will continue to raise capital until the end of 2009. In addition to its own funds, Ironton anticipates that it may invest in assets along with existing institutional partners of Exeter Realty Company.
Pioneer Property Partners LLC (Pioneer I) was organized in October of 2003 by Exeter Realty Company to consolidate six existing retail property ownership affiliates acquired or developed by Exeter Realty Company in Saint Paul from 1991 through 2001. The program attracted 15 substantial accredited investors.
Pioneer Property Partners II LLC (Pioneer II) was organized in January of 2006 by Exeter Realty Company to acquire the entire Pioneer I portfolio. Its investors were Pioneer I and a wholly-owned subsidiary of a large out-of-state public pension fund. The Pioneer II transaction also involved two additional retail properties in Saint Paul and Minneapolis.
Pioneer Property Partners III LLC (Pioneer III) was organized in January 2006 by Exeter Realty Company to acquire and/or develop other retail properties in the Minneapolis-Saint Paul area. Its investors are Exeter Investors LLC and a wholly-owned subsidiary of a large out-of-state public pension fund.
