DENVER--(BUSINESS WIRE)--May 1, 2026--
Seneca Capital Partners (“Seneca”), a Denver-based private equity firm, is pleased to announce the successful disposition of all portfolio real estate assets held by Seneca Capital Income Real Estate Fund II, L.P. (“SCIRE Fund II” or the “Fund”), representing approximately $120,000,000 in aggregate transaction value.
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SCIRE Fund II was strategically assembled to acquire and operate a diversified portfolio of income-producing real estate assets, with a focus on durable cash flow and long-term value creation. Through disciplined acquisitions, active asset management, and operational enhancements, the Fund exceeded its investment objectives and delivered top quartile performance for its investors.
“The completion of this portfolio exit represents a meaningful milestone for our firm and our investors,” said Rhett Trees, Founder and CEO. “Over the life of SCIRE Fund II, we remained keenly focused on executing our business plan with precision and consistency. We are proud of the results achieved and remain grateful for the trust and partnership of our investors, service providers, friends and supporters.”
The disposition of the Fund’s underlying portfolio reflects continued institutional demand for high-quality, stabilized real estate portfolios and underscores Seneca’s ability to identify, enhance, and exit investments at scale. The firm extends its appreciation to its operating partners, advisors, lenders, and transaction teams whose collaboration was instrumental in bringing the portfolio sale to a successful close.
Upon the closing of the portfolio sale and exit of SCIRE Fund II’s remaining holdings, the Fund will commence its wind-up and termination process in accordance with its governing documents.
Seneca Capital Partners remains focused on deploying capital through its current investment vehicles and pursuing new opportunities across its target sectors. Seneca aims to own and operate clean, safe and affordable housing communities with a spotlight on workforce or attainable housing for residents who do not fit into the traditional path to home ownership.
ABOUT SENECA CAPITAL PARTNERS:
Seneca Capital Partners is a private equity firm specializing in the acquisition and management of diversified portfolios of low-risk, high-cash-flow real estate assets. The firm’s investment strategy is designed to deliver capital preservation, consistent quarterly income, and long-term equity growth. To achieve these objectives, Seneca identifies and acquires undervalued, mismanaged, underperforming, or improperly capitalized income-producing real estate assets, then repositions them to unlock their full potential. Since its founding, the firm has provided exclusive access to differentiated, income-producing investment vehicles through long-term relationships cultivated by the company principals, Rhett Trees and Paul Luber. https://senecacp.com
Seneca is proudly headquartered in Denver’s University Hills neighborhood.
Past performance is not indicative of future results, and all investments are subject to loss.
DISCLAIMER:
Seneca Capital Management LLC is registered as an investment adviser with the U.S. Securities and Exchange Commission. Nothing herein shall be construed as an offer to render, or an attempt to render, personalized investment advice for compensation to any person in any jurisdiction where doing so would be unlawful. Seneca Capital Management LLC will not provide individualized responses or follow-up communications that constitute personalized investment advice unless it has satisfied all applicable legal requirements or an applicable exemption or exclusion is available.
Rhett Trees is the Founder, Chief Executive Officer and Chief Compliance Officer at Seneca Capital Partners and its affiliates.
President Donald Trump's administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval.
The statement furthers an argument laid out by Defense Secretary Pete Hegseth during testimony in the Senate on Thursday, when he said the ceasefire effectively paused the war. Under that rationale, the administration has not yet met the requirement mandated by a 1973 law to seek formal approval from Congress for military action that extends beyond 60 days.
While the ceasefire has since been extended, Iran maintains its chokehold on the Strait of Hormuz, and the U.S. Navy is maintaining a blockade to prevent Iran’s oil tankers from getting out to sea.
Here's the latest:
It’s a move that could jolt the world economy at a fragile moment.
Trump said in a post that the EU “is not complying with our fully agreed to Trade Deal,” though he did not flesh out his objections in the post.
Trump and European Commission President Ursula von der Leyen had agreed to the trade deal last July. It set a 15% tariff on most goods.
Treasury Secretary Scott Bessent winces at the allure of easy money — whether it’s lottery tickets, buy now, pay later loans or the promise of a crypto windfall — warning that the get-rich-quick mindset often leads Americans farther from financial stability, not closer to it.
“There are a lot of young people, mostly young men, going to blue-collar construction jobs, playing the lottery. It drives me crazy,” Bessent said in an interview.
”The best thing you can do is not play the lottery,” he said — rather, people should invest and “then watch it grow.”
Bessent spoke about the basics of building a workable budget and saving for the future at the tail end of Financial Literacy Month, an initiative the billionaire hedge fund manager has made a priority since joining Trump’s administration, driven by a childhood marred by poverty.
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President Trump sang the praises of King Charles III after the monarch’s state visit this week. He even lifted some tariffs on Scotch whisky as a favor to the British monarch.
The king delivered a diplomatic master-class on the trip, mixing praise for his host with subtle criticism. It’s unclear, though, whether it will make a major difference to a trans-Atlantic relationship troubled by divisions over issues including the Iran war.
“In the short term probably yes, in the long term probably no,” said Kristofer Allerfeldt, a University of Exeter professor specializing in American history. But he said Charles had “definitely clawed back some of the prestige of the monarchy” in his homeland with his assured performance.
“He’s done us proud,” Allerfeldt said.
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The former Democratic president is wading into the midterms, making his first political endorsement of the 2026 cycle by backing Keisha Lance Bottoms for the state’s top job.
Bottoms served as Biden’s senior adviser for public engagement after her tenure as Atlanta mayor.
In a one-minute video promoting her candidacy, Biden praised her track record as mayor and said “those same qualities that made her a great mayor made her invaluable to our administration — smart, focused, gets things done.”
“She handled it all with steady and thoughtful leadership,” Biden said in the video. “That’s the definition of battle-tested.”
When Homeland Security Secretary Markwayne Mullin was questioned by senators during his confirmation hearing about his vision for implementing President Trump’s mass deportation agenda, he said his goal was to keep his department off the front pages of the news.
To some degree, he has. Gone are the social media video clips of now-retired Border Patrol commander Greg Bovino clashing with protesters. Mullin’s predecessor, Kristi Noem, made her first trip as secretary to New York City to make arrests with Immigration and Customs Enforcement. In contrast, Mullin went to North Carolina to review hurricane recovery efforts.
The Republican administration appears to be recalibrating its approach to a centerpiece policy that helped bring Trump back to the White House, moving in many ways away from aggressive, public-facing tactics toward a quieter approach to enforcement. Despite that shift, the administration insists it’s not backing down from its lofty deportation goals.
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Many Republicans who have been uneasy with Trump’s war in Iran emphasized that there would be a May 1 deadline for Congress to intervene. But the date is now set to pass with no action from GOP lawmakers who continue to defer to the White House.
Under the War Powers Resolution of 1973, Congress must declare war or authorize the use of force within 60 days — a deadline that falls on Friday — or within 90 days if the president asks for an extension. But Congress made no attempt at enforcing that requirement, leaving town for a week on Thursday after the Senate rejected a Democratic attempt to halt the war for a sixth time.
The Trump administration has shown no interest in seeking congressional approval at all. It is arguing that the deadlines set by the law don’t apply because the war in Iran effectively ended when a ceasefire began in early April.
Senate Majority Leader John Thune, R-S.D., said Thursday he doesn’t plan on a vote to authorize force in Iran or otherwise weigh in.
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President Donald Trump granted a key approval Thursday for a major new oil pipeline from Canada into the U.S. that’s been dubbed “Keystone Light” over its similarities to a contentious project blocked by the Biden administration.
The three-foot-wide (1 meter) Bridger Pipeline Expansion would carry up to 550,000 barrels (87,400 cubic meters) of oil a day from Canada through Montana and Wyoming, where it would link with another pipeline.
The pipeline needs additional state and federal environmental approvals before construction, which company officials expect to start next year. Environmentalists hope to stop the project over worries that the pipeline could break and spill.
At peak volume, the 650-mile (1,050-kilometer) pipeline would move two-thirds as much oil as the better-known Keystone XL pipeline that got partially built before President Joe Biden, citing climate change, canceled its permit on the day he took office in 2021.
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Federal prosecutors released a video Thursday showing the moment authorities say a man armed with guns and knives tried to storm the White House Correspondents’ Association dinner and attempt to kill Trump.
Jeanine Pirro, the U.S. attorney for Washington, posted the video on social media amid questions over whose bullet struck a Secret Service officer as Cole Tomas Allen ran through security with a long gun toward the hotel ballroom packed with journalists, administration officials and others.
Prosecutors had previously claimed the agent was shot in the bullet-resistant vest during the melee, but had not confirmed it was Allen who shot the agent. Pirro, however, said Thursday that there is no evidence that the officer was hit by friendly fire.
Allen was injured but was not shot during the Saturday night attack at the Washington Hilton, which disrupted one of the highest-profile annual events in the nation’s capital.
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The Trump administration is arguing that the war in Iran has already ended because of the ceasefire that began in early April, an interpretation that would allow the White House to avoid the need to seek congressional approval.
The statement furthers an argument laid out by Defense Secretary Pete Hegseth during testimony in the Senate earlier Thursday, when he said the ceasefire effectively paused the war. Under that rationale, the administration has not yet met the requirement mandated by a 1973 law to seek formal approval from Congress for military action that extends beyond 60 days.
A senior administration official, who spoke on condition of anonymity to discuss the administration’s position, said for purposes of that law, “the hostilities that began on Saturday, Feb. 28 have terminated.” The official said the U.S. military and Iran have not exchanged fire since the two-week ceasefire that began April 7.
While the ceasefire has since been extended, Iran maintains its chokehold on the Strait of Hormuz, and the U.S. Navy is maintaining a blockade to prevent Iran’s oil tankers from getting out to sea.
▶ Read more
President Donald Trump speaks in the Oval Office of the White House, Thursday, April 30, 2026, in Washington. (AP Photo/Alex Brandon)
President Donald Trump signs a presidential permit regarding pipeline construction in the Oval Office of the White House, Thursday, April 30, 2026, in Washington. (AP Photo/Alex Brandon)
