West Long Branch-based PRC Group announced the launch of a new subsidiary, PRC Capital Markets LLC that will operate under its umbrella of companies. PRC Group says it, and its affiliated entities, comprise one of the most diversified and talented groups within the industry. –
In forming the Capital Markets entity, PRC joined forces with Christopher Otteau and Shree Shah, the founding members of 3P Equity Capital Inc., a Bernardsville-based real estate investment firm that specializes in urbanizing suburbia.
“3P Equity was created with the vision of bringing a smarter approach to capital by combining true capital markets and real estate experience,” said Otteau. “We are very excited to bring our investment platform to a developer that has combined 60 years of experience with continued enthusiasm for expansion and an exciting vision of growth.”
Bob Kaye, chairman and chief executive officer of The PRC Group, echoed Otteau’s emphasis on expansion.
“The PRC Group has had tremendous success over the past sixty years, utilizing very little outside capital in planning, developing, constructing, and managing multifaceted, and often complex, real estate projects,” he said. “However, as we continue to grow it has become clear we require a capital market strategy that matches the needs of our expanding portfolio of interesting real estate investments and today’s promising development opportunities.”