Heartland Capital launches real estate fund
Scottsdale, Ariz.–based Heartland Capital Partners has launched a $25 million private equity commercial real estate fund.
The fund, Heartland Income Properties, will focus on creating a value portfolio of income-producing class A and higher-end class B commercial real estate primarily located throughout the Midwest of the United States.
Markets to be considered include Des Moines, Kansas City, Omaha, Sioux Falls, Dallas, and the Twin Cities of Minneapolis and St. Paul, as well as Atlanta, and Phoenix, which are experiencing strong local economies, creating an active commercial rental market for years to come, according to Heartland.
“Local real estate professionals have already presented us investment properties offering significant current cash flow as well as those featuring attractive upside appreciation,” said Tim Kopatich, executive chairman.
CEO Bill Deegan added that the Midwest is known for a highly educated and motivated work force, low corporate and individual tax rates, and a superior quality of life. He also said the company’s portfolio will be “value driven” and that a commitment to “safety of principal” is a leading consideration driving property acquisition selection.
“We intend to diversify the portfolio over property type including office, medical, retail, distribution and hospitality,” said Deegan.
