RESSCO is pleased to announce the launch of a $100 million value-add multifamily real estate fund. RESSCO Multifamily Fund 1, L.P. (the “Fund”) will focus on the acquisition of value-add, workforce multifamily communities in the Midwest and Southeast United States. The Fund intends to capitalize on the current market opportunities and RESSCO’s 20+ year track record of delivering excellent investor returns.
The Fund will allow investors to take advantage of the supply-demand mismatch currently present in the workforce housing space, where a growing population of renters are aligned with a steady, or even decreasing, supply of workforce housing units in their budget. RESSCO plans to focus on target secondary markets with sustainable housing, demographic, and growth characteristics including a lower cost of living, further drives this dynamic.
“RESSCO is applying the knowledge and experience gained through our two decade history of successful value-add investments to take advantage of opportunities we see currently and approaching in our markets” said Allen Weiss, Chief Investment Officer at RESSCO. “We are excited to launch our new Fund and aim to continue delivering both investor returns and a positive impact on the communities we serve.”
About RESSCO
RESSCO is a 100% African-American owned, value-add investment manager focused exclusively on the acquisition of workforce apartment communities in the Midwest and Southeast United States. Building on our success over the past 20 years and through a variety of economic cycles, we are raising an equity fund to expand our successful program of acquiring, improving, and selling multifamily rental investments, focused on providing our residents superior service, a desirable housing lifestyle, and value. Our strategy has positive social and economic impact on the residents and communities it serves, while generating attractive income, asset appreciation, and total returns for investors.
RESSCO’s management team has more than 75 years of combined experience and has capitalized over $1 billion of real estate transactions.