Almanac Realty Investors Raises $2.25 Billion for Almanac Realty Securities VIII
New York – (October 26, 2018) – Almanac Realty Investors, LLC, a leading provider of growth capital to private and public real estate companies, announced today the final closing of its latest fund, Almanac Realty Securities VIII ("ARS VIII"), with over $1.9 billion raised in equity commitments, plus an additional $360 million in equity commitments tosidecar co-investment vehicles.
ARS VIII will primarily seek private investments of growth capital into private and public real estate companies to capitalize on the continued shift of real estate ownership to integrated entities. ARS VIII succeeds seven previous funds, which combined have committed over $5.0 billion across 41 companies.
Matthew Kaplan, Managing Partner of Almanac, said "The Almanac team is pleased with the closing of ARS VIII, which finished well above our original goal of $1.5 billion. We continue to identify strong investment opportunities in real estate companies who can profitably utilize long-term, flexible capital to pursue their strategies and significantly grow their businesses through the acquisition, development or redevelopment of real estate assets. It's an approach that has led to a 22-year track record of attractive absolute, relative and risk-adjusted returns." Josh Overbay, Managing Director, added "We're incredibly honored and humbled with the result of the ARS VIII fund raise, which included substantially all of our existing investors in previous funds, but also included a significant amount of commitments from new investors. These commitments show the continued support our investors have for our team and our differentiated investment approach."
ARS VIII has already made a commitment to invest up to $150 million in McNeill Hotel Company ("McNeill"). McNeill, based in Memphis, TN, is led by Phillip McNeill, Jr., CEO, and Mark Ricketts, COO, both second-generation hoteliers and former Equity Inns (NYSE: ENN) executives with over 30 years institutional experience in the hotel industry. McNeill is a hospitality real estate and property management company focused primarily on the acquisition and development of premium branded select service hotels located throughout the United States.
About Almanac Realty Investors
Almanac Realty Investors is a leading provider of growth capital to private and public real estate companies. From the time of its founding in 1981, originally under the name Rothschild Realty, the group has raised over $7.5 billion related to a wide array of real estate opportunities. Since 1996, with the establishment of the Almanac Realty Securities series of funds, Almanac Realty Investors' primary investment activity has consisted of making private placements into private and public real estate operating companies. To date, Almanac Realty Securities has committed/invested more than $5.0 billion into 41 companies. For more information, please visit our website at www.almanacrealty.com.