Epic Investment Services holds second close of US Multifamily Fund LP I
Epic Investment Services (Epic), a real estate investment and management company, has held the second close of its US Multifamily Fund LP I.
The round was led by real estate investment firm Township Capital and included equity commitments from other private and institutional investors.
"Although we have faced unprecedented events during the past year, the first acquisition in Fund I exceeded its business plan which reinforces the validity of our strategy and value creation model," says Jeffrey Kohn, Co-CEO of Epic. "We are very pleased to have Township Capital as the lead investor on this second close and we look forward to building a strong relationship with this group. We wish to thank all our investors for their continued support."
After the launch of Fund I in March 2020, Epic paused fundraising until January 2021 due to Covid-19 to focus on executing on its value creation model on Fund I's first asset – a 176-unit garden-style apartment complex that was acquired early last year in Las Vegas, Nevada.
"We are excited to launch our partnership with Epic and are looking forward to a long and prosperous relationship with them," says Matthew Gorelik, CEO of Township Capital. "Township Capital and Epic are fully aligned on strategy; and we see endless opportunities within the value creation model, especially given the current environment."