Atlantic | Pacific closes $140M portion of multifamily fund

The fund is looking to invest in affluent suburbs across the Southeast and Southwest

Miami /
Aug.August 23, 2019 12:30 PM
Howard Cohe of Atlantic | Pacific and downtown Miami (Credit: iStock)

Howard Cohe of Atlantic | Pacific and downtown Miami (Credit: iStock)

Atlantic | Pacific Real Estate Group and Blue Arch Advisors closed a $140 million portion of a fund that invests in multifamily properties in the Southeast and Southwest U.S.

The fund is looking to raise a total of $300 million, which will give it buying power of over $750 million. Investors in the fund include domestic and international institutional investors as well as high net worth individuals, according to a release.

The fund is focusing on investing in properties in affluent suburbs of major cities and value-add opportunities. The joint partnership has acquired about $1 billion worth of multifamily properties since 2016.

Bay Harbor Islands-based Atlantic | Pacific Real Estate Group’s parent company owns and manages more than 41,000 multifamily units across the country, according to the release.

In July 2018, Atlantic | Pacific, led by Howard Cohen, won a bid to develop a $172.8 million mixed-use project with a total of 600 residential units on a 90,000-square-foot parking lot at 152 Northwest Eighth Street in downtown Miami near the Brightline station in Overtown.

In October, an Atlantic | Pacific partnership paid $22.6 million for a 220-unit waterfront affordable senior housing complex in Sunny Isles Beach, known as the Marian Towers.


Related Articles

arrow_forward_ios
Related Group's Jorge Pérez and Jon Paul Pérez; rendering of the Gallery at Marti Park project (CMA Architects, Related Group, Getty)
Jorge Pérez’s Related wants to build apartments in Miami’s Little Havana
Jorge Pérez’s Related wants to build apartments in Miami’s Little Havana
Related’s Jorge Pérez and Jon Paul Pérez with 1785 Northeast Fourth Street (Related Group, Google Maps)
Related pays $48M for affordable senior housing complex in Boynton Beach
Related pays $48M for affordable senior housing complex in Boynton Beach
Lions Group's Albert Shirian, Fortis Design + Build's Andrew Lenahan and David Polinsky with renderings of the M Tower apartment project (LinkedIn, Fortis Design + Build, Nichols Architects)
Lions, Fortis Design propose 57-story apartment tower in downtown Miami
Lions, Fortis Design propose 57-story apartment tower in downtown Miami
Rendering of the Resia Old Cutler workforce apartment complex in south Miami-Dade County with Resia’s CEO and President Ernesto Lopes (LinkedIn, Resia, illustration by The Real Deal with Getty)
Resia scores $60M construction loan for workforce housing complex near Cutler Bay
Resia scores $60M construction loan for workforce housing complex near Cutler Bay
Habitat Group's Santiago Vanegas with 39 Northwest Seventh Avenue in Little Havana (Habitat Group, Google Maps)
Habitat Group sells Little Havana apartments to LA investors for $15M
Habitat Group sells Little Havana apartments to LA investors for $15M
Douglas Elliman CEO Jay Parker with a rendering of Clara Bay Harbor and Chetrit Group’s project in the Miami River district (right) (Clara Homes, Douglas Elliman)
Elliman’s new development rental arm expands into South Florida
Elliman’s new development rental arm expands into South Florida
From left: Fisher Brothers' Arnold and Kenneth Fisher with The Wynhouse
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
“Forced and contrived”: Fisher Brothers’ Wynwood rental project strikes out with Miami board
Miami-Dade County Mayor Daniella Levine Cava, Attorney
Miami-Dade may help renters in eviction court secure attorneys
Miami-Dade may help renters in eviction court secure attorneys
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...