Hamilton Urban Partners (HUP) is pleased to report that it has successfully closed fundraising for its 2023 Multifamily Value Add Fund with nearly $20MM in commitments. The company remains excited about two assets it recently acquired and about current opportunities in the “buyer/investor” friendly Seattle Value Add Apartment market.
- HUP raised $19,875,000 for the fund giving it the horsepower to purchase 2 additional buildings for a total of 4 strong fund assets.
- $9.5 Million has been deployed into two excellent fund properties. Both buildings are in the active value add creation phase with initial remodeled units renting at or slightly above our proforma rates. HUP sees further potential additional rent upside once renovations are complete.
- HUP will focus the remainder of the summer on getting the renovation plans and project work to a repeatable and more complete state. In parallel, the team is increasing outreach and participation in potential new deal reviews and sourcing.