Buckingham holds $175m final close on debut multifamily fund

Buckingham Companies, a vertically integrated, full-service real estate company, has reported that its affiliate, Buckingham Partners, closed its first real estate fund, Buckingham Multifamily Fund I, raising $175 million.

The Buckingham Multifamily Fund I, with a value-added strategy, closed in 12 months and was oversubscribed for its fund target. Investors included large North American public and private institutions.

Buckingham Partners, the fund manager, and Buckingham Multifamily Fund I GP, the fund general partner, are focused on acquiring multifamily and mixed-use properties located in dynamic and fast-growing secondary markets throughout the Midwest and Southeast United States. The fund will pursue a value-add investment thesis, increasing asset value through management efficiencies, property upgrades, interior/exterior renovations and improved amenities.