Rastegar founder discuses REIT launch, investing in vintage multifamily real estate across the U.S. Sun Belt region
Today, Rastegar Property Co., a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Sun Belt region of the United States, announced a REIT launch, a $200 million private real estate investment trust offering.
The REIT intends to use the net proceeds of the offering to invest primarily in vintage multifamily and other opportunistic real estate assets throughout the Sun Belt region of the southern United States. The Sun Belt consists of 18 states covering the lower third of the United States and includes seven of the 10 largest cities, as well as many midsize metropolitan statistical areas.
Vintage multifamily assets combine certain elements of class A, B and C multifamily properties. Generally, vintage multifamily assets are heavily renovated cl