Salt Lake City — Private real estate investment manager Highland Real Estate Partners announced the final closing of Highland Multifamily Opportunities, the company’s first US real estate fund. Highland Multifamily Opportunities raised $44 million, which exceeded its original goal of $35 million and brings Highland’s equity under management to $65 million.
Highland Real Estate Partners has already begun building the fund’s portfolio, with 9 acquisitions completed to date including 211 apartments in the Chicagoland and Salt Lake City markets. The team is focused on adding value to this portfolio and executing operational plans to generate occupancy gains, increase NOI and improve asset quality.
Ben Frazer, Investment Partner and Co-Founder, said: “This fundraising allows Highland to continue to execute on our strategy and scale our platform and, alongside the strong performance of our initial investments, is a testament to market opportunity and our differentiated strategy. . We are grateful for the confidence and continued support of our investors, despite the difficult macroeconomic environment, and remain committed to delivering attractive absolute and risk-adjusted returns. »
Dylan Grigg, Operating Partner and Co-Founder, says, “We have carefully built Highland from the ground up, growing our property management business and streamlining our investment processes to drive competitive advantages in the sub-institutional multi-family market. very inefficient. Our investments have benefited from the vertical integration of asset ownership and management, achieving strong growth in rents, occupancy rates and yields. We look forward to continuing to deliver strong results for our investors. »
About the Highlands
Highland Real Estate Partners is a vertically integrated manager of private real estate investments, focused on the acquisition and operation of lower middle market multi-family, affordable and college housing assets in select markets. Highland aims to consolidate sub-institutional sized multi-family assets and generate returns by exploiting inefficiencies and operating at scale in a fragmented landscape dominated by smaller, undercapitalized market players. As of September 30eHighland has approximately $110 million in real estate under management covering over 500 apartments in the Greater Chicago and Greater Salt Lake City markets.