Almanac Realty Investors Raises $1.4 Billion for Almanac Realty Securities VII, L.P.
New York – (June 1, 2015) – Almanac Realty Investors, LLC, a leading provider of growth capital to private and public real estate companies, announced today the final closing of its latest fund, Almanac Realty Securities VII, L.P. (ARS VII), with approximately $1.26 billion raised in equity commitments for the main fund, plus an additional $160 million in equity commitments to sidecar co-investment vehicles.
The fund will seek private placements into private and public real estate companies to capitalize on the continued shift of real estate ownership to integrated entities. ARS VII succeeds six previous funds, which total approximately $3.2 billion committed for investments across 35 companies, using the same investment strategy. In 2014, Almanac also formed Almanac Realty Securities Canada I, with C$200 million of commitments.
“The Almanac Realty team is pleased with the closing of ARS VII, which finished well above our original goal of $1 billion and was primarily from investors in our previous funds,” said Matthew Kaplan, Managing Partner of Almanac Realty Investors. “These commitments show the continued support our investors have for our team and our investment approach. Further, we continue to identify real estate companies who can profitably utilize long-term, flexible capital to pursue their strategies and significantly grow their businesses through the acquisition, development or redevelopment of real estate assets. It’s an approach that has led to a 19-year track record of attractive absolute, relative and risk-adjusted returns.”
ARS VII and its affiliates have already made commitments to invest up to $150 million in MA Multifamily Master Holdings, LLC (Mount Auburn), and up to $125 million in a national student housing company.
Mount Auburn, based in Los Angeles, is a vertically integrated real estate company engaged in the acquisition and management of multifamily assets in targeted secondary markets across the United States. Mount Auburn currently owns 18 properties, with more than 5,000 units.
The second investment for ARS VII will be made in a vertically integrated student housing real estate company with investment, development, property management, leasing, and accounting/reporting capabilities. The company, which is currently in the process of rolling up its real estate assets, management and development companies into one combined entity, will own interests in 17 student housing assets, and has acquired or developed more than 13,000 beds and $1.5 billion of student housing in 20 markets across the United States.
The Almanac team is currently engaged in due diligence on a number of other attractive opportunities to deploy capital into real estate companies with a proven track record of success.
About Almanac Realty Investors
Almanac Realty Investors is a leading provider of growth capital to private and public real estate companies. From the time of its founding in 1981, originally under the name Rothschild Realty, the group has raised nearly $5 billion related to a wide array of real estate opportunities. Since 1996, with the establishment of the Almanac Realty Securities series of funds, Almanac Realty Investors’ primary investment activity has consisted of making private placements into private and public real estate operating companies. To date, Almanac Realty Securities has committed/invested more than $3.2 billion into 35 companies. For more information, please visit our website at www.almanacrealty.com.