Using $100M ‘war chest,’ New Orleans developer targeting distressed business properties | Business News

Local developer Anthony Marullo has begun buying properties using a $100 million “war chest” he has raised to target mostly commercial premises that have run into cash flow problems because of the coronavirus pandemic.

Marullo, who is the third generation of the family that has owned the French Market Restaurant & Bar on Decatur Street since 1965, and who has owned other French Quarter bars and restaurants himself, started the new venture with two purchases: the Meineke Car Care Center at 4243 Canal Street and Gulf Coast Spirits liquor and convenience store on Florida Street in Mandeville.

The Gulf Coast Spirits…

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