Blue Heron Asset Management, a private equity real estate investment and development firm based in Raleigh, N.C., is offering a new multifamily real estate fund, according to a filing with the SEC and IREI's FundTracker database. The firm did not comment on its fundraising efforts.
The fund, Blue Heron Real Estate Opportunity Fund III, is seeking to raise a maximum of $125 million, according to the filing.
Blue Heron targets primarily multifamily and mixed-use real estate investments in the Southeast United States. Some of these markets include North Carolina; Charleston, S.C.; Orlando, Fla.; and Nashville.
The firm invests in value-add assets, which typically include current income with upside potential, and opportunistic assets, such as ground-up development, both of which focus on growing net operating income via a hands-on approach.
