The joint venture “EPC Promecap Multifamily Partners V” raised more than $320 million from domestic and international investors
MIAMI (Nov. 29, 2023) – Eagle Property Capital Investments, LLC (“EPC”), a vertically integrated real estate investment manager focused on the value-add multifamily space, announces the successful closing of its latest multifamily investment vehicle with a total raise of $325 million. In partnership with Promecap, a leading private equity firm based in Mexico City, the joint venture has now closed “EPC Promecap Multifamily Partners V, LLC” (Fund V). The capital raised will allow for approximately $883 million in the acquisition of value-add multifamily assets.
Launched in November 2021, Fund V targets income-producing, value-add (A-, B or C+) properties in high-growth Sun Belt markets that can be acquired at a discount to replacement cost and benefit from a full-scale repositioning. The Fund has already acquired 10 multifamily properties, with additional assets to be included in the Fund’s portfolio.
“Our ability to raise $325 million amidst a shifting capital markets environment demonstrates investor confidence in EPC’s disciplined approach and past performance in the multifamily arena,” said Gerardo Mahuad, Managing Principal at Eagle Property Capital. “Together with Promecap, Fund V will allow us to realize a high rate of return for investors while simultaneously adding value to every community we serve.”
“Eagle Property Capital’s understanding of the U.S. multifamily market and their ability to quickly adapt across varying geographies have made them a compelling partner to work with,” said Federico Chavez Peón, Managing Partner of Promecap. “Offering a clear value-add strategy with numerous properties already acquired under Fund V, we look forward to continuing returns while serving diverse communities nationwide.”
Fund V focuses its investment strategy on high growth cities with strong fundamentals and high Hispanic presence that have benefited and will continue to benefit from in-migration from other states, limited supply of single-family homes and favorable regulatory and tax environments.
About Eagle Property Capital Investments
Eagle Property Capital Investments is a vertically integrated real estate investment manager pursuing value–add investment strategies through the acquisition, reposition, and management of multifamily apartment properties in Florida and Texas. Since 2011, EPC and its affiliates have acquired 41 multifamily residential properties containing over 10,123 apartment units. To learn more about EPC, visit www.eaglepropertycapital.com
Founded by Fernando Chico Pardo in 1997, Promecap is an institutional private equity firm based in Mexico City. To date, Promecap directly and through its private equity platform has completed over 85 investments and has more than US$3.3 billion in assets under management. Promecap is composed of a diverse team of seasoned investors with strong track record in multiple asset classes including structured debt, distressed assets, preferred equity and common equity through both private and public investments.