Longtime Dallas real estate investor Westmount Realty Capital LLC is teaming with executives from another firm to raise money for opportunistic property deals across the nation.

The new Westmount Realty Finance hopes to do about $100 million in transactions next year, CEO Cliff Booth said Thursday.

"We are going to be raising money from a variety of different sources to do real estate deals," Booth said. "It will probably be more existing properties than development."

Westmount's partners in the venture are three principals from Dallas-based Realty Capital Partners LLC – Richard Myers, Steve Saxon and Peter Aberg.

Westmount Realty Finance will operate out of Dallas with satellite offices in New York, Atlanta, San Francisco and London.

"We will be raising a series of funds from high-net-worth individuals, family offices and institutions for various product types," Booth said.

"Most of our deals will be less than $20 million; it's harder to get equity and debt for those types of deals."

Booth said the operation is already "up and running."

"We are already working on some deals in California," he said.

Along with buying properties, the venture is also looking at acquisition of debt and recapitalization of existing deals.

Westmount and Realty Capital combined have more than 50 years' experience in commercial property investment and development.

Westmount previously invested in properties in the Dallas central business district, Las Colinas, North Dallas and Richardson.