Argosy Real Estate Partners closes opportunity zone fund at $300m

Argosy Real Estate Partners (AREP) has completed the final closing of the Argosy Real Estate Opportunity Zone I fund and its parallel fund (AROZ I). The firm said AROZ I exceeded its $150 million target size and closed at its $300 million hard cap.

The investor base was composed of an insurance company, family offices and high-net-worth individuals.

Argosy Real Estate Partners specializes in opportunistic, value-add, core-plus and opportunity zone investments in lower middle-market real estate projects. The fund will invest in multifamily, office, retail, industrial and lodging investments in qualified opportunity zones throughout the United States.

To date, AREP has raised $362.4 million for opportunity zone investments through AROZ I, co-investments alongside AROZ I and partnerships formed prior to AROZ I. AREP has closed on 10 opportunity zone investments and maintains a strong pipeline of projects in these zones. The firm currently has approximately $1.7 bil