MIAMI, FL – Atlantic | Pacific Companies (A|P) and Blue Arch Advisors has announced the closing of their co-sponsored fund, Blue Atlantic Partners, which will focus on investing in existing multifamily communities in the Southeast and Southwest U.S.
The fund closed with $120 million of equity capital commitments which together with anticipated leverage is expected to have buying power of over $350 million. Investors in the fund include institutions and high net worth individuals from the U.S. and overseas.
“We received commitments from partners who were looking for an operating partner in the multifamily space with long and successful track record of property management and long term value creation" said Greg Ward, Managing Partner with the fund from A|P.
The fund's strategy will be to purchase existing multifamily communities that can benefit from A|P’s property management expertise and value add/renovation program. The fund's target locations are affluent suburbs of major cities in the Southeast and Southwest U.S.
"We are grateful for the support from our investors and very excited with our pipeline of investment opportunities," said Gil Hermon, Managing Partner with the fund from Blue Arch Advisors.
For more information about A|P and its array of real estate services including development, property management, affordable housing, and construction, visit www.apmanagement.net or call (800) 918–1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).