Dec 12, 2023
Miami's Eagle Property Capital & Mexico's Promecap Secure $300M for Value-Add Multifamily Ventures in Sunbelt
Miami's Eagle Property Capital Investment, a prominent player in the real estate sector, has successfully closed its latest multifamily investment fund, amassing over $300 million.
Traded Editorial
Miami Real Estate Investor Secures $300M for Sunbelt Value-Add Properties
Miami's Eagle Property Capital Investment, a prominent player in the real estate sector, has successfully closed its latest multifamily investment fund, amassing over $300 million. This venture is a collaborative effort with Promecap, a private equity firm based in Mexico City. The partnership aims to focus on income-generating, value-add properties primarily in Florida and Texas.
A Powerful Partnership for Property Investment
The partnership between Eagle Property Capital Investment and Promecap has resulted in the EPC Promecap Multifamily Partners V fund. This fund will facilitate approximately $883 million in the acquisition of value-add multifamily communities. The fund was launched in November 2021, with a strategic focus on cities that exhibit strong fundamentals and a high Hispanic presence.
Targeting High-Potential Markets
The fund's target markets are those that have seen and will continue to see an influx of migrants from other states. These markets also have a limited supply of single-family homes and offer favorable regulatory and tax environments. To date, the fund has acquired 10 assets in Florida and Texas, with plans to add more communities to its portfolio.
Promecap's Established Market Presence
Promecap, founded by Fernando Chico Pardo in 1997, is a well-established entity in the market with more than $3.3 billion under management. This partnership with Eagle Property Capital Investment is set to further strengthen its position in the real estate sector.
Conclusion
The successful closure of the EPC Promecap Multifamily Partners V fund is a testament to the potential of the real estate market in the Sunbelt region. This venture not only promises significant returns for investors but also contributes to the economic growth of the targeted cities. As the fund continues to expand its portfolio, it will undoubtedly play a pivotal role in shaping the real estate landscape in Florida and Texas.