Township Capital Partners to Close $60M Multifamily Value-Add Investment Fund
Innovative Real-Estate Investment Firm Township Capital Closes its 11th Flagship Comingled Vehicle, Utilizing its Co-GP Equity Strategy, Alongside Epic Investment Services
LOS ANGELES, June 7, 2021 /PRNewswire/ -- Township Capital announces it participated as lead investor in Epic Investment Services' ("Epic") second closing of its U.S. Multifamily Fund LP I ("Fund I"), with $60 million of equity commitments. Fund I aims to acquire garden-style multifamily properties in select markets targeting strong demographics, durable employment and other value-add characteristics.
"We're excited to partner with Epic in this round after the first acquisition in Fund I exceeded expectations," said Matthew Gorelik, CEO of Township Capital. "We see endless opportunities within this model as the U.S. multifamily sector continues to provide long-term, stable returns."
Multifamily assets for consideration will include one or more of the following:
- Built between 1980 to 2010
- Offers a mix of Studio, 1, 2 and 3-bedroom suites
- Displays little to no suite renovations
- Under managed, or experienced higher than market vacancy levels
"We seek to improve operational efficiency and offer tenants better amenities and living conditions in these garden-style housing complexes. This value-add approach continues to prove itself, especially in the current climate," said Jeffrey Kohn, Co-CEO of Epic.
Fund I will focus on U.S. markets with populations of greater than 2 million that offer diversified industries and are home to major employers with business-friendly environments. Many of the target assets are located within key markets in Arizona, Texas, North Carolina, Colorado, Tennessee, Nevada, Georgia, Utah and Florida. Township and its partners also plan to consider assets in other states with a population above 10 million, as well as secondary cities if they meet the investment criteria.
Township Capital specializes in deploying programmatic, passive co-GP equity alongside institutional commercial real estate sponsors. The company uses funds, such as the Fund I, to provide a streamlined and highly efficient solution to the co-GP piece of the capital stack.
About Township Capital, Inc.
Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial. For more information on Township Capital, visit townshipinc.com.
About Epic Investment Services
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Epic's Canadian head office is located in Toronto, Ontario and its U.S. head office is located in Denver, Colorado. Epic's portfolio comprises over 30 million square feet and $17.5 billion in assets under management in office, retail, industrial and multi-family residential properties. For more information on Epic Investment Services, visit epicinvestmentservices.com.
Media Contact:
Kyle Kappmeier
JConnelly for Township Capital
973-850-7366
[email protected]
Jessica Jagdeo
Epic Investment Services
[email protected]
SOURCE Township Capital
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