Base Equities, Alex. Brown Realty forge partnership for fund

Base Equities, a Los Angeles–based private equity firm that specializes in providing preferred equity to established sponsors in commercial real estate assets across the United States, has announced a strategic joint venture partnership with Alex. Brown Realty (ABR), an independent real estate investment manager specializing in value-add, opportunistic and core-plus investments in the middle market.

ABR Chesapeake Fund VI, a value-added real estate fund sponsored by ABR, has committed $26 million to Base Equities’ strategy, which is focused on providing small-balance ($1 million to $5 million) preferred equity for commercial real estate investments, with an emphasis on value-add multifamily transactions in the $5 million to $30 million range. Base Preferred Equity Fund I is continuing to raise capital and is on track to achieve its target of $50 million in commitments dedicated to the strategy, according to Michael Bastan, a co-founder and principal at Base Equities alo