Arizona Growth Fund I | Case Study

Overview

Arizona Growth Fund I is Black Marlin Group’s latest U.S. vehicle, created to support the development of Lakeside Village at Morrison Ranch — a landmark mixed-use, lifestyle community in Gilbert, Arizona.

This fund represents the evolution of BMG’s investment philosophy in the U.S., combining disciplined real estate development with forward-thinking community design. Through Arizona Growth Fund I, subscribed investors will gain access to one of Arizona’s most dynamic and rapidly growing submarkets, driven by strong demographic trends and robust economic fundamentals.

Terms

Market

Gilbert, AZ

Project Start

2026

Property Type

Mixed-Use Lifestyle

GLA

165,000 SF

Total Capitalization

$91M

Equity

$32M

Loan to Value

65%

Target Stable NOI

$9M

Target IRR

22.26%

Hold Period

10 Years

Minimum Investment

$1M

Status

CLOSED

Project Vision: Lakeside Village

Lakeside Village is a 15.5-acre, master-planned mixed-use development designed to embody the "live, work, play" philosophy. It integrates residential, retail, office, wellness, and entertainment components into a cohesive community experience.

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Key features include:

GLA: Approximately 165,000 SF of mixed-use space.

Leasing Units: ~55 high-quality tenant opportunities.

Parking: ~700 spaces for maximum accessibility.

Green & Lake Areas: Over 16 acres of green and lakefront open space, enhancing community wellness and aesthetic value.

Design Theme: Modern Farm House — blending warm, timeless architectural elements with contemporary luxury.

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Lakeside Village is designed to create a true sense of belonging while maximizing long-term asset value through thoughtful placemaking and experience-driven design.

Why Gilbert?

Gilbert has become a prime target for high-income residents and major employers alike, attracting a young, tech-savvy, and family-oriented demographic.

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Key highlights:

#1 City where Millennials are buying homes (SmartAsset, 2020).
#1 Most Prosperous City in the Nation (Economic Innovation Group, 2017).
#2 Safest Large City in the U.S. (FBI, 2022).
Low unemployment rate (2.4% as of 2024), supporting economic resilience.
Median household income: $140,790.
Median single-family home sale price: ~$870,000.

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Gilbert’s strategic location and strong local fundamentals create an ideal backdrop for long-term value creation.

‍How to Invest

Initial Consultation

Let's discuss your investment objectives so we can align opportunities with your strategy.

Due Diligence & Documentation

Access comprehensive investment materials, including market studies, financial models, and legal disclosures.

Complete Subscription

Speak with our team to finalize your allocation and onboard into your selected offering.

Get Started

Leadership

The Team Guiding Every Decision

Our leadership team combines decades of experience in real estate development, finance, and project execution across the U.S. and Mexico.

Through direct co-investment, we ensure that your capital is managed with the same discipline and focus as our own.