Argosy Real Estate Partners closes build-for-rent co-investment vehicle

Argosy Real Estate Partners (AREP) has completed the final closing of Argosy Real Estate Build-For-Rent Co-Investment (ARE BFR), securing $110 million of capital commitments. The institutional investor base consisted of family offices and high-net-worth individuals.

ARE BFR targets the development of single-family build-for-rent assets throughout the United States. The fund will make co-investments in single-family build-for-rent development projects alongside Argosy Real Estate Partners IV (AREP IV), a discretionary, closed-end, diversified real estate fund with $286 million in investor commitments.

To date, ARE BFR has invested in 10 projects totaling 1,317 units, comprising a total development cost of $490 million.

AREP has invested $312 million into 21 single-family build-for-rent projects totaling $1.03 billion of total development costs and maintains a strong pipeline of single-family build-for-rent projects. As of March 31, the firm had some $2 billion of