Miami-based Eagle Property Capital Investment has closed its latest multifamily investment vehicle, in partnership with Mexico City-based private equity firm Promecap, for a total raise of $309 million from domestic and international investors. The capital raised for EPC Promecap Multifamily Partners V will allow for approximately $883 million in the acquisition of value-add multifamily communities.
“Our ability to raise more than $300 million amid a shifting capital markets environment demonstrates investor confidence in EPC’s disciplined approach and past performance in the multifamily arena,” said Eagle Property Capital managing principal Gerardo Mahuad. “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.”
The fund was launched in November 2021, targeting income-producing, value-add properties in high-growth Sun Belt markets. The strategy also targets cities with strong fundamentals and high Hispanic presence that have benefited and will continue to benefit from in-migration from other states, limited single-family supply, and favorable regulatory and tax environments. So far, it has acquired 10 assets in Florida and Texas, with additional communities slated to be included in the fund’s portfolio.
“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 Promecap managing partner Federico Chavez Peón. “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.”