Buckingham Closes Debut Multifamily Fund at $175 Million
INDIANAPOLIS, May 14, 2018 /PRNewswire/ -- Buckingham Companies ("Buckingham"), a vertically integrated, full service real estate company, today announced that its affiliate, Buckingham Partners, LLC, closed its first real estate fund, the Buckingham Multifamily Fund I, at $175 million.
The Buckingham Multifamily Fund I, with a value-added strategy, closed in 12 months and was oversubscribed for its fund target. Investors included large North American public and private institutions.
Buckingham Partners, LLC, the fund manager, and Buckingham Multifamily Fund I GP, LLC, the fund general partner, are focused on acquiring multifamily and mixed-use properties located in dynamic and fast growing secondary markets throughout the Midwest and Southeast U.S. The fund will pursue a value-add investment thesis, increasing asset value through management efficiencies, property upgrades, interior/exterior renovations, and improved amenities.
Bradley B. Chambers, Founder, President and CEO of Buckingham Companies, said, "We are delighted our debut fund has attracted the support of best-in-class investors who believe in our investment strategy, and who appreciate the track record and operational excellence of our team. As interest in living and working in vibrant Midwestern and Southeastern markets increases, we are seeing great opportunities in well-located multifamily housing."
The Buckingham Multifamily Fund I has closed, or is under contract to acquire, six investments in Carmel, IN; Zionville, IN; Cincinnati, OH; Louisville, KY; and Nashville, TN.
Evercore served as global placement agent for the Fund. Goodwin Procter served as legal counsel to Buckingham.
About Buckingham Companies
Founded in 1984, Buckingham Companies is a fully integrated real estate firm specializing in the development, acquisition, management and construction of multifamily, mixed-use, commercial and hospitality projects across the United States. Buckingham owns or manages a portfolio of nearly $1.5 billion of real estate for its own account, third-party owners and institutional partners. Buckingham has managed more than 125 properties, more than 28 million square feet, and over 25,000 rental units nationwide. The Indianapolis-based company has approximately 350 employees. For more information, visit www.buckingham.com.
Contacts:
Blicksilver PR
Caroline Luz, 203-656-2829, [email protected] or
Lisa Baker, 914-725-5949, [email protected]
SOURCE Buckingham Companies
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