Grubb Properties raises $300m, plans new fund launch
North Carolina–based Grubb Properties raised more than $300 million for two real estate funds in 2019, including $140 million for its Qualified Opportunity Fund (QOF) and $160 million for its Southeast Real Estate Fund VI.
The company, which specializes in multifamily and office properties, said it expanded to new markets where it sees elements of strong resiliency with the capital raise.
The QOF has made five acquisitions to date, including commercial properties in Chapel Hill, N.C.; Alexandria, Va.; and Columbus, Ohio; as well as multifamily development projects under the company’s Link Apartments brand in Washington, D.C., and Winston-Salem, N.C. The fund also has two properties under contract in Charlotte, N.C.
Fund VI has acquired commercial properties in Fairfax, Va., and Smyrna, Ga., along with multifamily properties in Winston-Salem, Charlotte and Atlanta.
“We are proud of the new relationships we have built and the promising projects we hav