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| Shamrock's Real Estate Group was initially formed to manage the Disney Family's personal real estate assets and to provide the Family with an alternative investment strategy. Much like Shamrock's private equity investing, the Real Estate Group has evolved significantly since its inception in 1984. Shamrock has invested over $200 million to date in real estate transactions throughout the U.S. The project value of these investments exceeds $1 billion. Because of Shamrock's investment experience and their commitment to revitalizing projects in Southern California , they were selected by an entity formed by Mayor Richard Riordan as the manager of the Genesis L.A. Real Estate Funds. |
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The Genesis initiative was unveiled in March 1999, as an alliance of local government, a non-profit organization and a for-profit investment fund. |
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Genesis goals are to promote economic development and create employment opportunities by investments that benefit low and moderate income communities. |
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Shamrock Capital Advisors was selected to manage the Genesis Real Estate Funds because of its successful investment track record and a commitment to Southern California. |
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In July 2000, the Genesis Fund, the first fund in the country that was exclusively committed to benefit low and moderate income neighborhoods, was launched to create "double bottom line" results: generate appropriate risk adjusted returns for its investors and stimulate economic development in the local communities. This $85 million fund has successfully achieved both its financial and economic stimulation goals. |
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The success of Genesis I prompted the creation of a second Genesis fund which closed in September 2005 at a level of $104 million. Genesis Real Estate Fund II will pursue investments throughout nine southern California counties. |
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