Private equity real estate firm, Electra America, specializing in the multifamily sector has closed its 2017 Multifamily Fund with $212 million from foreign institutions and high-net worth investors. The fund, dedicated to acquiring and repositioning value-add multifamily assets in “Sun Belt” cities, totals over 7,000 apartment units in four states: Georgia, Florida, North Carolina, and Texas. Electra America is the debt and equity partner to American Landmark, which operates over 23,000 apartment units across the southeast. Since its founding in 1996, the firm has bought and sold over 100,000 apartment units, valued at over $8 billion.
“With demand for apartments expected to exceed supply for the coming decade, we continue to see great opportunity and excellent returns in the multifamily sector,” said Joseph Lubeck, CEO of Electra America and American Landmark. “We’ve received tremendous interest from foreign institutions and high-net-worth investors, who recognize our competitive advantage…Fund 2017 is outperforming projections and we anticipate our 2018 Fund will provide equally attractive, risk-adjusted returns to investors.”
