Monterrey, NL. Eagle Property Capital and Promecap partnered to launch the investment vehicle EPC Promecap Multifamily Partners V, LLC (Fondo V), and seek investors from Monterrey to raise $ 300 million to $ 400 million in capital contributions, with an initial closing planned for early March 2022.
With the capital raised by the Fondo V will be able to acquire approximately 1,200 million assets (housing for rent) in different border cities of the United States.
While city of Mexico, Jalisco, and Baja CaliforniaThey are key markets in the country to seek national and international investment, as they have dynamic and stable economies; New Lion stands out with the largest proportion of its Gross Domestic Product (GDP), generated in high growth sectors (79%), according to the results of the State Competitiveness Index 2021, published by IMCO.
The Fondo V will focus on class A-, B and C + properties, with the potential to add value through a repositioning program, in cities with high growth in USA, which can be purchased at a significant discount relative to their replacement cost.
The launch of the Fondo V It occurred nine months after the closing of the fourth investment fund in rental housing, managed by EPC, which raised capital commitments of $ 146 million from investors and co-investors.
To date, the capital of Fund IV has been fully invested or committed to investments through the acquisition of 11 assets multi-family with more than 2,400 apartments in Florida and Texas.
EPC is characterized by serving the Hispanic market middle income in USA. The Hispanic community on North America it represents the fastest growing demographic segment in terms of population, purchasing power, schooling and generation of new households.
According to data from Census 2020, the Hispanic or Latino population grew from 50.5 million people in 2010 (16.3% of the US population) to 62.1 million in 2020 (18.7% of the total population.
Resilience housing market
“We are very excited about our partnership with Promecap, one of the leading private equity firms in Mexico with an outstanding record of success, for the launch of our fifth investment fund ”, explained Gerardo Mahuad, Co-founder and Managing Director of Eagle Property Capital.
For his part, Federico Chávez Peón, general director of Promecap stated: “We are very pleased to partner with such an experienced investment manager in housing for rent in the USA as is EPC ”.
In your opinion, Eagle Property Capital has 10 years of experience delivering returns above targets in investment Property, as well as for its operational experience within predominantly Hispanic communities.
“The resilience of the housing for rent on USA during the crisis of Covid-19 has resulted in tremendous interest from investors around the world, “added Rodrigo Conesa, also co-founder and managing director of Eagle Property Capital.
Eagle Property Capital and Promecap Investments, LLC (Eagle Property Capital), is a real estate investment management company based in Miami, Florida, specialized in the rental housing market in USA.
Promecap, is an institutional manager of private equity investments, based in the Mexico CitySince its founding in 1997, it has completed more than 70 investments, directly and through its private equity platform. It has assets under management with a value greater than $ 3.3 billion.