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Investors - NOVEMBER 16, 2020

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Bain Capital Real Estate and Magnolia Capital form JV to invest in multifamily housing

by Released

Bain Capital Real Estate and Magnolia Capital have formed a joint venture to pursue opportunities to acquire, renovate and operate value-added multifamily housing in primary and secondary markets throughout the United States.

The joint venture launches with the objective of deploying $900 million of gross capital over the next several years.

Bain Capital Real Estate and Magnolia Capital will initially focus on acquisitions in compelling Sunbelt markets, with a plan to purchase multifamily properties that have a “value-add” component, including executing capital upgrades to unit interiors, building exteriors and amenity spaces, and improving property operations through proactive asset and property management strategies. The venture will target well-located, garden-style properties constructed between 1975–2000 with a rent profile that serves a middle-income demographic.

“We believe this is a compelling opportunity to invest in markets where employment is

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