real estate
Miami-based Eagle Property Capital Investments and Mexico City-based PromCap have partnered to raise $309 million for multifamily properties across Sunbelt states.
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Miami-based Eagle Property Capital Investments and Mexico City’s PromCap raise an impressive $309 million for a dynamic investment fund with a specific focus on multifamily housing across Sunbelt states. It was successful and became a hot topic in the real estate field.
Announced in a press release, the ambitious joint venture intends to use this significant funding to inject capital into the acquisition of luxury apartment complexes, buildings and communities valued at approximately $883 million. .
What is their vision? We source properties at discounted rates and strategically reposition them to maximize their potential.
Managing Principal Rodrigo Conesa, who steers the ship at Eagle Properties, wasted no time with Promcap President Fernando Chico Pardo. Together, the two companies have already acquired 10 multifamily properties, strengthening his portfolio.
Notably, the partnership’s previous successes include the acquisition of three thriving apartment communities totaling 850 units located within the Dallas-Fort Worth area.
Since its inception in 2011, Eagle Property has acquired 41 multifamily properties, including more than 10,000 apartments, primarily in Texas and Florida.
Meanwhile, major PromCap, founded in 1997, manages $3.3 billion in assets.
But Miami’s real estate craze doesn’t stop there. Participating in this high-stakes game, Highline Real Estate, led by founder David Mollett, recently announced a $350 million fund that will be earmarked for distressed commercial real estate across the Southeast. did.
The fund aims to extend a lifeline to landlords who are working to sell or raise capital for office, retail, multifamily, and industrial properties alongside acquiring distressed assets.
Adding to the Miami turmoil, 13th Floor Investments, under the direction of Arnaud Carsenti, set sail with a $300 million fund, eyeing fast-growing markets across the country and distressed real estate in South Florida and elsewhere.
The company has its sights set on a 2.4-acre development site in Aujus earmarked for a multi-family housing project boasting up to 350 units.
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