At a glance
- 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 fund carries a single-promote structure and what IREI calls competitive management fees.
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.
Reported by the Fundraising desk from Institutional Real Estate, Inc. (IREI). Published . Corrections