Three Pillars Capital has secured $300 million in new capital commitments that it’s going to use partly to spend money on misery multifamily.
The funding, all of which was secured during the last 12 months, represents commitments from a community of household places of work within the US & Center East together with ultra-high internet price buyers from Texas, California and New York.
In deploying the capital, Three Pillars will proceed its concentrate on value-add acquisition of Class B and C multifamily properties, with a brand new concentrate on distressed belongings. It’s going to gasoline the acquisition of as much as $1 billion in belongings throughout Three Pillars’ present markets in Texas and Oklahoma, but in addition in fast-growing markets akin to Arizona, Florida, Georgia and the Carolinas.
Since its founding in late 2017, Three Pillars has amassed a portfolio of greater than $500 million in belongings underneath administration, spanning greater than 3,000 items throughout Texas and Oklahoma. The agency additionally maintains a separate property administration arm, Greenline Condominium Administration, to be able to streamline operations at its properties and generate further long-term worth.
