Perseus Realty Capital LLC in Washington said Thursday that it had formed a securities unit to raise equity for real estate projects and investments.

The firm also said it had hired Julie Rost to oversee West Coast relationships. She worked at Eastdil Secured LLC, a real estate investment bank owned by Wells Fargo & Co.

PRC Securities will try to raise $350 million to $500 million per deal in the "growing and underserved area of the market," Perseus said.

Jay Jarrett, a managing director at Perseus, said in a press release: "This is an incredible investment environment for disciplined, patient, and smart investors with an investment niche that flies below the radar of the larger institutional community."

The unit "will enable us to provide both first-time and established sponsors … with an effective fund formation process to raise institutional capital," he said.

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