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Buckingham closes debut multifamily fund at USD175m


Buckingham Partners has closed its first real estate fund, the Buckingham Multifamily Fund I, at USD175 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 US. 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, says: "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."

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