Eagle Property Capital and Promecap launch value-add multifamily investment fund
Eagle Property Capital Investments has teamed up with Promecap, a private-equity firm based in Mexico City, to launch a new multifamily investment vehicle.
EPC Promecap Multifamily Partners V LLC (Fund V) aims to raise up to $400 million in equity commitments, with an initial closing planned for March 2022. The capital raised in Fund V will allow for approximately $1.2 billion in the acquisition of value-add multifamily assets.
Similar to prior EPC funds, Fund V will target income-producing, value-add (A–, B or C+) properties in high-growth Sun Belt markets that can be acquired at a discount to replacement cost and benefit from a full-scale repositioning.
“The resilience of the U.S. multifamily sector in 2021 has led to tremendous interest from investors around the world,” added Rodrigo Conesa, managing principal at Eagle Property Capital Investments. “Like prior EPC funds, Fund V will continue to employ a disciplined approach to identify value-add mul