Providence Real Estate, a multifamily owner-operator, has completed the final close of the Providence Multifamily REIT and its affiliated entities with $85 million in commitments and more than $15 million of co-investments. The capital came from investors throughout the United States, Europe, South America and Asia.
Providence Multifamily REIT makes investments in well-located multifamily properties that demonstrate an opportunity to be renovated and achieve higher rents from workforce renters in growing cities throughout the United States.
The fund currently owns the Stratford Apartment Homes in Atlanta, the Infinity Off Baldwin Park Apartments in Orlando and the Crosley Tanglewood Apartments in Houston.
“We are very pleased with the fundraising outcome for the Providence Multifamily REIT that was conducted during a uniquely challenging period that spanned the entire COVID-19 pandemic and the following inflationary period,” said Alan Pollack, CEO of Provide
