Home News The investor making a $150M bet on luxury rentals in southern Maine

The investor making a $150M bet on luxury rentals in southern Maine

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Mark McClure sees the shortage and high prices of rental units in Maine differently than most people.

Maine 20,000 shortage With over 2,000 affordable rental properties in Portland, this is an opportunity for real estate investors and developers. Due to the high cost of land in Maine and New England, large-scale development of more than 500 units is unlikely. He said small things like him would grow over a decade to make up for the shortage.

McClure, Managing Partner of GenX Capital Partners with offices in Portland and Miami, said: “So, like any other developer, we ride that wave.”

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