The Real Deal Miami

New $50 multi-family commercial fund will invest in Florida, other eastern U.S. markets

October 08, 2009 05:32PM

Miami-based asset manager Foxcode Real Estate has plans to raise $50 million for a new multi-family commercial real estate fund. The fund will likely invest in Florida, Massachusetts and other eastern U.S. markets. The managers intend to purchase properties at below-market values in order to turn around profits through appreciation. “Our fund structure offers a risk mitigation strategy that enables investors to own a smaller piece of a larger portfolio of properties,” said Robert Willis, president of Foxcode. “Big picture fundamentals are the perfect storm for our fund — prices, interest rates, inflation, and rental demographics.” [Housing Wire]