SWBC Real Estate launches second multifamily fund with $200m target
The private placement vehicle follows $125 million in commitments for SWBC RE Fund, LP, according to IREI.
At a glance
SWBC Real Estate has launched a second multifamily fund, SWBC RE Fund II, with a $200 million fundraising target, IREI reported.
The target is 60% above the $125 million in capital commitments SWBC raised for its first fund, SWBC RE Fund, LP.
Higher interest rates, higher operating costs, heavier debt service and elevated supply have contributed to declining property values in many markets, leaving quality multifamily available at discounts to replacement costs, IREI reported.
SWBC Real Estate has launched a second multifamily fund, SWBC RE Fund II, with a $200 million fundraising target, IREI reported. The private placement vehicle will pursue apartment acquisitions and future development opportunities across Sun Belt states, and will be administered and operated with SWBC Investment Co., an SEC-registered investment adviser, according to the report.
The target is 60% above the $125 million in capital commitments SWBC raised for its first fund, SWBC RE Fund, LP. The report does not state how much of the new fund has been committed.
The fund carries a single-promote structure and what IREI calls competitive management fees. SWBC is marketing it to large institutions, pension funds, endowments, municipalities, family offices and high-net-worth individuals, the report said.
Higher interest rates, higher operating costs, heavier debt service and elevated supply have contributed to declining property values in many markets, leaving quality multifamily available at discounts to replacement costs, IREI reported.
Save this analysis and keep the funds you follow together in My Desk.
Sign in to save articles or follow funds.
The Wrap