Asia Capital Real Estate, a real estate private equity firm today announced that, along with global private markets investment management firm Hamilton Lane (NASDAQ: HLNE), it has recapitalized a portfolio of properties from ACRE’s early vintage workforce housing fund series.
The transaction includes the transition of over 1,700 apartments into a new fund structure. The renewed business plans and ongoing capitalization of the properties will allow them to be well positioned within their markets which include high growth cities across the Southeast and Mid-Western United States.
ACRE is currently deploying its third private equity fund focused on workforce multifamily housing which, along with separately managed accounts, exceeds $250 million. ACRE has transacted on over 20,000 apartments in the United States and will remain a dedicated long-term owner-operator of affordable housing.
“This transaction is an important milestone for ACRE and we are honored to partner with such a prominent institutional investor. As leaders in workforce housing, ACRE will continue to deliver attractive returns through continued growth in the multifamily sector, while simultaneously providing institutionally operated and socially responsible housing, at affordable rents” said Michael Van Der Poel, Co-Founder & Managing Partner.
Asia Capital Real Estate (“ACRE”) is a vertically integrated private equity firm specializing in commercial real estate through active investments in both direct equity and debt capital markets as well as special situation opportunities. ACRE manages a global portfolio in excess of $1.0 billion concentrated US Multifamily with holdings in the United Kingdom and South East Asia through separate verticals. ACRE has offices in Atlanta, New York Miami and Singapore.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. Dedicated to private markets investing for 27 years, the firm currently employs 360 professionals operating in offices throughout the U.S., Europe, Asia-Pacific, Latin America and the Middle East. With approximately $469 billion in total assets under management and supervision as of December 31, 2018, Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private markets asset class on a global and customized basis. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.