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Broad Creek Capital adds over 350 Units in the Southeast to its Enhanced Income Strategy Portfolio


WASHINGTON, Jan. 25, 2022 /PRNewswire/ -- Broad Creek Capital, an investment partnership serving family offices based in both the U.S. and Europe, recently added over 350 multifamily units to its Enhanced Income Strategy portfolio through a joint venture with Springer Capital, a real-estate private equity firm focused on the southeast region of the United States. The partnership acquired the 232-unit Largo Pointe in Savannah, Georgia and the 124-unit Chapel Ridge in Jackson, Tennessee. The purchase prices for the properties totaled $37.85M.

"Multifamily real estate in the U.S. is one of the most compelling investment opportunities we see today because it can provide attractive, stable yield and significant capital appreciation in a market where inflation and interest rates are driving uncertainty. Both short-term and longer-term fundamentals for multifamily are strongly supportive of this continued outperformance," said Matthew Ruesch, Co-Founder and Managing Partner at Broad Creek Capital.

Tom Farnoly, Principal at Springer Capital, stated, "Savannah and Jackson are exciting markets within the southeast because of the continued population growth and economic investment in each. The expansion of the port and several new distribution and logistics centers in Savannah are supercharging the already strong job market. Jackson, Tennessee is located nearby the newly announced Blue Oval Campus, which is the site of the $5.9 billion Ford Motor manufacturing complex for new electric vehicles and batteries."

Broad Creek Capital's Enhanced Income Strategy seeks to provide tax-efficient high yield investment income via the acquisition and repositioning of underperforming multifamily properties in attractive markets throughout the United States. The portfolio holds over 1000 units of multifamily real estate throughout the mid-Atlantic and southeast United States.

About Broad Creek Capital - Broad Creek Capital is a family-office backed private investment partnership. The firm partners with other family offices in the U.S. and Europe on direct investment opportunities in real estate, private equity, and venture capital. For more information, please visit www.broadcreekcap.com. For more information on the Enhanced Income Strategy, please visit www.broadcreekcap.com/co-investment-platform.

About Springer Capital - Springer Capital is a real estate private equity firm focused on the opportunistic acquisition of multifamily properties providing strong, risk-adjusted returns to investors.  The firm targets properties that are poorly managed, under-valued, under-capitalized or suffering from deferred maintenance and can be acquired at a discount to their intrinsic value.  The strategy focuses on small to medium-sized value-add and re-development opportunities principally located in the eastern half of the United States.  For more information, please visit www.springercap.com.

SOURCE Broad Creek Capital


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News published on 25 january 2022 at 09:48 and distributed by: