Fund V will seek to raise between $300 and $400 million in capital contributions through March 2022, to acquire 1.2 billion assets of Class A-, B and C+ properties in the United States” which can be obtained at a significant discount in respect of out the replacement cost,” they explained.
The companies will also focus on selecting areas with high population and economic growth on the part of the Hispanic community, which will benefit from immigration to other states and from lower rent.
Eagle Property’s latest investment fund closed nine months ago, after acquiring $146 million from investors and co-investors, which were allocated in 11 assets from 2,400 apartments in Florida and Texas, so PromCap is confident and wants a more ambitious goal on your side.
“This partnership will provide Promecap’s sophisticated investor base with immediate access to investment opportunities in multi-family assets in some of the strongest employment and income growth markets in the United States,” Fernando Pacheco, Mananning, said in a statement.
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