Humphreys Capital raises additional USD58m for Fund I
Real estate investment company Humphreys Capital has raised USD58 million in its annual offering of Humphreys Fund I, the largest equity raise for the fund since its formation in 2012.
This year’s equity raise was 73 per cent larger than in 2019, continuing a trend of increasing capital raises. The 2020 offering closed 30 June and a new offering is expected to open to Accredited Investors on 1 January, 2021.
Since its inception, Fund I focuses on investments in the multifamily, industrial, office and retail sectors in high-growth cities across the Southeast and Southwest United States. The investment team seeks opportunities in long-term buy-and-hold real estate in prime locations, established properties offering stabilised cash flow with potential for value-add, and infill development in proven submarkets. The income-focused private REIT had a portfolio of 67 assets with a property value of more than USD597 million as of 31 December, 2019. Cash distributions from the fund have increased each year since its formation, and investors in the fund have experienced a 14.29 per cent net IRR since inception. The minimum initial investment for Fund I is USD500,000.
“We are pleased to complete this ninth annual offering of Humphreys Fund I, our most successful capital raise to date,” says Kirk Humphreys, Founder and Chief Executive Officer, Humphreys Capital. “More than 45 per cent of this offering was raised after Covid-19 put the world on pause, indicating investors’ appreciation of our diversified strategy and record of consistently producing income. We want to thank our new and returning investors for their confidence in Humphreys Capital, particularly in light of the economic hardships and uncertainties. It is gratifying to know that, even in this difficult market, Fund I has continued to provide consistent distributions to high-net-worth individuals, family offices and institutional investors across the country. Looking ahead, we will continue our long-established, relationship-driven approach to sourcing off-market real estate transactions on behalf of our investors.”