Basis Investment Group LLC, a national commercial real estate investment platform founded by CEO Tammy Jones, announced today that it held its final closing of its first commingled, closed-end Fund, BIG Real Estate Fund I, L.P. Basis raised $410 million of capital commitments for the Fund, which was oversubscribed. The Fund is a successor vehicle to seven prior joint ventures and separate accounts launched by Basis in the past 10 years. With the closing of the Fund, Basis has up to an additional $800 million of capital to deploy.
“We are extremely pleased by our latest fundraise, which is the most recent in a series of capital raises that we have engaged in over the last decade. The over commitment to our first closed-end commingled vehicle is a strong vote of confidence in our team, our platform and our investment approach,” said Jones.
“Basis invests across the capital stack in middle markets throughout the country, focusing on what we call ‘Dequity’,”added Jones. “We target opportunities that we have underwritten to provide equity-like returns for our investors as well as the downside protections of debt.”
Basis launched BIG Real Estate Fund I in November 2017 to capitalize on bridge and mezzanine debt, preferred equity, structured equity and B-piece investments in the US middle markets, which are backed by income-producing, commercial real estate and multifamily properties. The Fund portfolio currently consists of 20 investments that are well diversified across a wide range of property types and regions - a key tenet of the firm’s investment philosophy.
Basis has built a successful 10-year track record leveraging the Dequity approach and the experience of a core team that has worked together for 18 years (through multiple market cycles). The Fund is building on Basis’ track record by pursuing investments that provide a significant current income component, creating an immediate revenue stream for its investors from the moment their commitments were finalized. The Fund’s limited partners include public and private pension plans, investment management firms, financial institutions and sovereign wealth fund investors.
“Diverse firms like Basis are achieving greater returns recognized by study after study, and many institutional investors. We are excited to add our track record and capabilities to the list of firms owned by women and people of color that are generating alpha for our investors and blazing the trail for the investment managers that will follow us,” says Jones.
About Basis Investment Group
Basis Investment Group is a diversified commercial real estate investment platform investing across the capital stack throughout the United States. With offices in New York, Chicago, and Irvine, CA, Basis has successfully closed nearly $4 billion in transactions across multiple strategies and asset classes. Basis Investment Management Group is registered as an investment adviser with the Securities and Exchange Commission.
Basis, a certified Minority and Woman-Owned Business (MWBE), focuses primarily on investments in the middle markets where it has deep relationships. Basis originates and acquires fixed rate senior mortgage loans, bridge loans, mezzanine loans, preferred equity, structured equity and B-piece investments. For more information please visit www.basisinvgroup.com.