US private markets real assets investor Broad Creek Capital has made a first close for its value-add multifamily housing fund.
The manager said the BCC Multifamily Advantage Fund I (BCC MAF I), which is seeking to raise $150m (€129.5m), is anchored by a select group of US municipal institutions and family offices across the US and Europe.
The initial amount raised was undisclosed, but the manager expects the fund will hold its second close in early 2026.
BCC MAF I, which will invest in essential-housing communities with a focus on the Southeast and broader Sun Belt, has already acquired Loft One35, a 298-unit multifamily community in Charlotte, North Carolina, for $94m.
Matthew Ruesch, co-founder and managing partner of Broad Creek Capital, said: “This first close is a strong endorsement of our platform and investment thesis. We see one of the most compelling entry points for multifamily in over a decade, where disciplined capital and hands-on execution can generate durable, long-term returns.”
Michael Green, co-founder and managing partner of Broad Creek Capital, said: “Loft One35 demonstrates the type of opportunity we seek – well-located assets where disciplined underwriting and hands-on execution can drive durable value.”
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