New Real Estate Platform Launches with Value-Add Acquisition
DANVILLE, CA – A new privately-owned real estate investment, development, management and advisory firm, titled 300 Venture Group (3VG), has launched.
Based in Danville, CA, the innovative real estate platform will focus on the acquisition, development and redevelopment of retail, office, multifamily, residential and mixed-use properties across western US markets.
Founded by industry veterans Jerry Hunt, Mark Pleis, Howard Overton and Kameron Klotz, 3VG aims to transform underutilized assets and generate robust opportunities and returns for investors, partners and clients.
“3VG was formed to use our combined decades of experience and exceptionally complementary skill sets to give properties new life and purpose for the 2020’s and beyond,” states Hunt. “We’ve been friends and colleagues for years, and now it’s time to work together to execute impeccably, have fun and create real value for our investors, partners and the communities in which we’re going to operate.”
The four principals, along with their capital partners, have closed their first transaction; the acquisition of an underutilized property in downtown Napa, CA. 3VG expects to close its second value-add transaction in 45 to 60 days with the acquisition of a Bay Area asset.
3VG’s founders boast more than 90 years of combined industry experience across various sectors. With experience in acquiring, operating and developing projects, the partners plan to combine their institutional knowledge to create value for stakeholders.
“The more problematic and challenging a project is, the more fun it is,” says Pleis. “Our team has a proven track record and has provided services across all real estate sectors. We have the right team to really drive this platform forward, and we’re excited for what’s to come.”
Hunt holds more than 30 years of public and private real estate experience. He has acquired and/or leased more than 7.5 million square feet of space, valued more than $2 billion, and he has also been involved in numerous high-profile development projects in the Bay Area. Hunt previously founded Quattro Realty Group, co-founded Blake Hunt Ventures (BHV) and served as EVP and COO at Western Properties Trust.
Pleis has more than 36 years of industry experience. He is a founding principal of Lee & Associates’ first Northern California office in 1993.
Overton has a more than 20-year background in retail real estate, including public REIT experience at Regency Centers, DDR Corp. (now SITE Centers), Kimco Realty and Pan Pacific Retail Properties. Overton has been involved in more than $17.4 billion of property transactions, totaling 79 million square feet, throughout his career.
Klotz holds more than 10 years of experience in strategic planning, operations and management. He has been instrumental in securing numerous complex entitlements throughout California. Klotz is a US Marine Corps veteran of Operation Iraqi Freedom and he has also served as a frequent angel investor in start-up companies across an array of industries.