American South Fund Management (ASFM), a joint venture between SDS Capital Group and Vintage Realty, has held a final close for American South Real Estate Fund II (ASREF II) after raising $174 million in equity commitments.
ASREF II provides preferred equity and equity financing to real estate sponsors for projects in the U.S. South. To date, ASREF I and II have collectively committed $106 million to 22 projects, financing 5,147 housing units, 81 percent of which are affordable to families with less than 80 percent the area median income.
Deborah La Franchi, founder and CEO, SDS Capital Group, said in an interview with IREI that part of what has made the ASREF series successful is ASFM’s eye for solid sponsors. La Franchi pointed to a sponsor with whom ASFM has funded five transactions, saying, “We know they execute, they just do excellent work. They know we can execute, we can underwrite and close quickly if they find an opportunity in the market. So we really loo
