Hamilton Point Investments, a real estate investment company based in Old Lyme, Conn., has held a $115 million final close on HPI Real Estate Fund V, a real estate private equity fund that will acquire, with leverage, approximately $300 million of multifamily apartment properties.
The fund has closed on seven assets and has two more under contract. HPI raised the fund from 1,365 individual accredited investors brought in through 27 independent broker dealers and nine RIAs.
“Hamilton Point Investments’ capital raising nearly doubled in 2017, which is strong when you consider that REIT and BDC sales dropped substantially during the year,” said David Kelsey, HPI co-founder. “However, we’ve got a strong track record of going full-cycle with our first three funds, all with mid-teens IRRs net to investors. Not so much with most of the REITs and BDCs.”
Hamilton Point Investments owns and manages multifamily apartment properties. HPI invests through a series of real estate private equity investment funds. Since 2009, the company’s funds and affiliates have acquired 12,000 apartment units.
