Sares Regis Group has closed out fundraising for its Sares Regis Multifamily Value-Add Fund III at $328 million in total equity commitments, that when leveraged should generate approximately $1 billion in buying power.
The fund is focused on well-located Class-B properties in the Western United States, mainly Northern and Southern California and Seattle, Portland, Denver, and Phoenix. Since its launch, the Fund has acquired six assets that, in aggregate, represent approximately 44% of the Fund’s total commitments.
CIO Bill Montgomary noted Sares Regis is “…pleased with the current portfolio composition and have another property that we expect to close in the first quarter of 2020. We continue to identify and pursue compelling investment opportunities in strong markets that will benefit from the enhancements we create and are expected to generate attractive cash flow and appreciation potential.”
Accord Capital Partners LLC served as exclusive global capital advisor to Sares Regis.