Argosy holds $48m first close for income & growth fund

Argosy Real Estate Partners has held a first closing for Argosy Real Estate Income & Growth I (ARIG I) at $47.5 million. ARIG I has a $100 million target fund size and a $200 million hard cap.

ARIG I’s first closing included an initial commitment of more than $20 million by Argosy affiliates, together with significant investments by returning investors from Argosy’s opportunistic fund series who had contacted Argosy seeking a core-plus/light value-add investment strategy.

ARIG I will make longer-term investments in stabilized, cash-flowing assets with growth potential through improved management and light-to-moderate renovation. ARIG I will target mispriced opportunities, primarily with local operating partners within its extensive operating partner network, that are overlooked by larger core-plus/value-add funds. It will continue to focus on Argosy’s targeted geographic markets in niches within the multifamily, commercial and lodging asset classes, while sel