Broad Creek Capital, a private markets investment firm focused on U.S. real assets, announced the acquisition of The Crossing at Palm Aire, a 315-unit class A multifamily community in Sarasota, Fla., following the successful second close of its Multifamily Advantage Fund I (MAF I). Broad Creek Capital acquired the property alongside co-sponsor Hillridge Capital, with Abod Capital Solutions investing as a co-limited partner in the joint venture.
The acquisition brings the fund to nearly 30 percent deployed toward its $150 million target and follows a second close led by European family offices. The fund’s overall investor base spans family offices and institutional investors in the United States and Europe. The milestone reflects continued investor confidence in Broad Creek’s disciplined strategy of acquiring high-quality multifamily communities in high-growth, Sun Belt markets where operational improvements can create long-term value.
“Broad Creek began as a fami
