CRC, Brown Close $146M Equity Fund to Acquire Southeastern Multifams

Baltimore, MD-based Continental Realty Corporation, in partnership with Brown Advisory, has closed its Core Multifamily Fund, LP, after a raise of nearly $146 million in private equity funds.

The partnership is an open-ended fund that was formed to create a long-term vehicle for core multifamily investment and will acquire a portfolio of income-generating multifamily properties located in high-growth Southeastern US markets.

Target asset characteristics include Class A garden and mid-rise communities built within the past four years, with a focus on stabilized or near-stabilized opportunities. The partnership seeks well-constructed properties with top-quality finishes and amenities.

“Multifamily real estate performance correlates positively with population and job growth, and by investing in high-growth markets, properties acquired by this fund could benefit from submarket growth that is stronger than the national average,” said Ari Abramson, CRC’s VP of acquisitions. “We believe multifamily properties benefit from attractive long-term supply/demand dynamics, and current multifamily fundamentals are strong.

Photo: CRC-owned The Flats at Ballantyne, Charlotte, NC courtesy Continental Realty Corporation

Source link

Leave a Reply

Your email address will not be published.