Township Capital Partners to close USD60m Multifamily Value-Add Investment Fund
Township Capital has participated as lead investor in Epic Investment Services' (Epic) second closing of its US Multifamily Fund LP I with USD60 million of equity commitments.
Fund I aims to acquire garden-style multifamily properties in select markets targeting strong demographics, durable employment and other value-add characteristics.
"We're excited to partner with Epic in this round after the first acquisition in Fund I exceeded expectations," says Matthew Gorelik, CEO of Township Capital. "We see endless opportunities within this model as the US multifamily sector continues to provide long-term, stable returns."
"We seek to improve operational efficiency and offer tenants better amenities and living conditions in these garden-style housing complexes. This value-add approach continues to prove itself, especially in the current climate," says Jeffrey Kohn, Co-CEO of Epic.
Fund I will focus on US markets with populations of greater than two million that offer diversified industries and are home to major employers with business-friendly environments. Many of the target assets are located within key markets in Arizona, Texas, North Carolina, Colorado, Tennessee, Nevada, Georgia, Utah and Florida. Township and its partners also plan to consider assets in other states with a population above 10 million, as well as secondary cities if they meet the investment criteria.
Township Capital specialises in deploying programmatic, passive co-GP equity alongside institutional commercial real estate sponsors. The company uses funds, such as the Fund I, to provide a streamlined and highly efficient solution to the co-GP piece of the capital stack.