Auerbach Funds has held its first close for its third real estate private equity fund, Auerbach Opportunity Fund III (AOF III).
AOF III initially raised $14.7 million of capital commitments and is focused on opportunistic real estate investments in distressed, mismanaged or underperforming assets within the multifamily, retail and specialty class, located across the Unite States. The first close or “friends and family round” was composed almost entirely of existing investors from Auerbach Opportunity Funds I & II. AOF III has a target size of $100 million.
Auerbach Funds is continuing its tradition of marrying existing capital commitments to capital placement by acquiring three assets with the first close of AOF III. The investments are geared to generate monthly cashflow while enhancing asset value and equity for its investors. The Auerbach Funds team employs property-level value-add and operational enhancements to meet its target returns for investors.
