T
ucker Manion is taking his real estate business to the next level with a new venture, Canopy Real Estate Partners. Launched with fellow industry veterans Jay Rollins and Maren Steinberg, CentrePoint will remain intact but serve as the fundraising office for Canopy.

    CentrePoint has been a syndicator for most of its 17-year history, but this model limits scalability and liquidity. Manion aims to raise real estate funds from investors who can write checks for multiple deals, providing discretionary capital that's harder to achieve overnight.

    Canopy's first fund, CentrePoint Fund I, has raised between $60 million and $80 million with a goal of reaching $100 million. The fund will focus on buying retail centers, small-bay industrial properties, and multifamily assets in Colorado and Arizona. Manion sees the west side of Denver as a prime growth area.

    The game plan is to find deals where real estate is performing well but financing is shaky due to post-pandemic interest rate changes. Canopy will capitalize on this "forced sale" environment by partnering with local operators who can identify these opportunities.

    Jay Rollins, Manion's partner in the new business, brings 35 years of experience and a network of contacts to help find deals. He aims to counter large, mediocre funds that prioritize fees over returns and help raise a new generation of investors.

    Canopy has already started working on its second fund, which will be between $250 million and $500 million. Rollins is confident in the fund's success, citing his impressive track record with 629 investments completed, only two of which lost money.