“The fact that we were able to not only secure investors, but also exceed target, speaks volumes about the relationships we’ve cultivated over the past four years.” said Brandon Rosser, Chief Legal Officer for Stoneweg US.
ST. PETERSBURG, Fla. (PRWEB) October 20, 2020
Stoneweg US, a real estate investment firm specializing in multifamily acquisitions and developments, announced the closing of its SW Fund I RE Fund with a total capital raise of $26MM, exceeding the Fund’s capital target by $1MM. Stoneweg US will be the exclusive General Partner for the Fund, a first-time for the Company, and plans to increase the portfolio’s value by an additional $500MM-$600MM.
On the recent milestone, Patrick Richard CEO of Stoneweg US, commented: “This is an epic accomplishment; and a momentous time for the Company and our Investors.”
Capital raising efforts for the Fund began in late October 2019 and by January 2020 the company had already collected an impressive 80% of total targeted equity.
“We are extremely pleased with our ability to secure quality investors in a relatively short period of time,” said Brandon Rosser, Chief Legal Officer for Stoneweg US. “The fact that we were able to not only secure investors, but also exceed target, speaks volumes about the relationships we’ve cultivated over the past four years.”
SW Fund I investors are comprised of the Company’s professional affiliates, high net worth individuals and Stoneweg US employees. The Fund will target Class A and B multifamily assets in emerging US markets, continuing the company’s rapid growth and further diversifying its portfolio, currently valued over $1 Billion.
“The addition of SW Fund I allows us to broaden our acquisition strategy.” said Ryan Reyes, Chief Investment Officer for Stoneweg US. “While value-add will continue to play a key part in our acquisitions, SW Fund I will focus on institutional grade assets in high growth markets experiencing positive net migration at a rapid pace.”
Stoneweg US has already completed four transactions on behalf of the Fund and will close a fifth paramount deal in November. The Company estimates acquiring 20 properties within the next 18 - 24 months.
About Stoneweg US
Stoneweg US is a multifamily real estate investment and development firm located in the heart of downtown St. Petersburg with a portfolio of over 12,000 units valued over $1 Billion. The Company invests in multifamily assets positioned for strong growth and focuses on increasing investor returns, while improving resident experience through a variety of value-add strategies. For more information, please visit: http://www.stoneweg.us.