Auerbach Funds today announced the first close for its third real estate private equity fund, Auerbach Opportunity Fund III (“AOF III”). AOF III initially raised $14.7 million of capital commitments and is focused on opportunistic real estate investments in distressed, mismanaged, or underperforming assets within the multifamily, retail, and specialty class located across the U.S. The first close or “friends and family round” was comprised almost entirely of existing investors from Auerbach Opportunity Funds I & II, and AOF III has a target size of $100 million.
Peter Auerbach, Founder and Managing Partner of Auerbach Funds, said, “We are excited about the first close for AOF III coming from our existing investors. Having existing investors continue to exhibit confidence in our investment returns and performance is a great compliment to our team and its ability to successfully execute on our strategy. Auerbach Funds’ limited partners have come to rely on capital preservation, stable cash flow, and equity appreciation throughout all market cycles from our investment products.”
Auerbach Funds is continuing its tradition of marrying existing capital commitments to capital placement by acquiring three assets with the first close of AOF III. The investments are geared to generate monthly cash flow while enhancing asset value and equity for its investors. The Auerbach Funds team employs property level value-add and operational enhancements to meet its target returns for investors. Peter Auerbach added: “We are seeing situations exacerbated by the pandemic that have allowed AOF III to leverage its readily available capital and strategy in order to capitalize on a number of opportunities for our investors.”
About Auerbach Funds
Auerbach Funds is a Charlotte, North Carolina based real estate private equity fund manager. Founded in 2016, Auerbach Funds manages over $300 million in total asset value, comprising of over 3.7 million square feet, across three close-ended funds. Auerbach’s opportunistic funds seek to make real estate investments across the U.S. that are distressed, mismanaged or underperforming assets within the multifamily, retail, senior housing and specialty classes.
For more information visit: www.auerbachfunds.com
Director of Investor Relations