Midloch Investment Partners has closed its second value-fund, Midloch Value Fund II, raising $60 million. The firm initially targeted $50 million in equity capital from investors.
Midloch intends to launch its third value fund, Midloch Value Fund III, over the summer, targeting $75 million of equity to be invested in well-located multifamily and commercial properties in the Midwest and other areas. Midloch, with offices in Chicago, Milwaukee and Minneapolis, is principally focused on the Midwest but has made a number of investments in other markets, from the Southeast to the Sun Belt and the Mountain West.
To date, Midloch Value Fund II has acquired 13 properties, including Riverwalk Apartments in Dallas; the industrial space located at 4321 Piedmont Parkway in Greensboro, N.C.; in Minneapolis, the Graceland Retail Portfolio (retail and land), LaSalle Plaza office, industrial space at 9231 Penn Avenue South and Science Center Business Plaza (industrial flex); and two m