Buckingham attracts capital for two multifamily funding vehicles

Indianapolis-based Buckingham Companies has closed its second real estate fund, the value-add Buckingham Multifamily Fund 2 (BMF2), at $215 million.

BMF2 had 100 percent reinvestment participation from previous investors in the firm’s inaugural Buckingham Multifamily Fund 1 (BMF1), which closed in May 2018. The investor mix consisted of large U.S. and non-U.S. public and private institutional investors. Like BMF1, BMF2 will acquire multifamily and mixed-use properties in surging U.S. secondary markets in the Midwest and Southeast.

Buckingham said the latest fund has already allocated 45 percent of its capital to multifamily communities in four cities. The firm plans to increase asset value through management efficiencies, property upgrades, interior/exterior renovations and improved amenities.

“We are thrilled to have the continued support of current best-in-class limited partners, and we welcome our new LP partners in BMF2,” said Bradley Chambers, CEO of