Black Salmon closes $250m multifamily fund

Black Salmon, a national commercial real estate investment and development firm based in Miami, has closed its $250 million multifamily fund. The new vehicle will focus on acquiring value-add properties in key markets throughout the Sunbelt region over the next 24 months.

The firm’s latest investment strategy is to identify assets in primary and secondary Sunbelt markets with strong economic drivers, such as job and population growth, an educated and diverse talent pool, and business-friendly states with strong in-migration. Initiation of the fund is marked by the Black Salmon’s first property acquisition in Austin.

“This multifamily fund, the first investment endeavor since our company formalized the partnership with LarrainVial, allows our Latin American and European investors to take part in a property sector that will benefit from strong fundamentals within the U.S. commercial real estate market,” said Jorge Escobar, managing partner and co-CEO of Black Sal