IBS Investment Bank is launching a $100 million fund with Gastonia, North Carolina-based multifamily owner-operator MACC Venture Partners. The fund will focus on acquiring, managing and selling multifamily properties in the Southeastern U.S.
FORT LAUDERDALE, Fla., Feb. 14, 2017 /PRNewswire/ — Fort Lauderdale-based private equity firm IBS Investment Bank a division of Institutional Banking Services, N.A. CORP (IBS, N.A.) today announced its $100MM agreement with Gastonia, North Carolina based multifamily owner-operator MACC Venture Partners, LLC (MACCVP) for the acquisition, management and disposition of multifamily assets throughout the Southeastern United States.
The new agreement will leverage IBS, N.A.’s institutional investment management experience to launch MACC’s first close-ended fund, the $100MM MACCVP’s Capital Equity Fund, LLC (the “Fund”). The Fund will fuel the group’s purchase of Class ‘B’ multifamily assets which are operationally opportunistic for MACCVP’s property management prowess. “We believe overall conditions for multifamily is still positive among Southeastern metro areas. Job growth, supply growth, affordability and submarket concentration drive our due diligence. This focus resonates deeply in our acquisitions and is reflected in our past performance and track record,” said MACCVP Managing Director, Tony Azar.
Jackson, the IBS Investment Bank chief executive and Forbes Finance Council member cites MACCVP’s personalized, high-touch culture as the driver which led him into the agreement. “The corporate culture between MACCVP and IBS, N.A. is synonymous in that we have remained consistent to our employees and investors throughout economic cycles by sticking to the fundamentals. This partnership delivers us a competitive edge in acquiring stable assets in high-barrier to entry markets,” IBS, N.A. Chairman and Chief Investment Officer Jason Jackson told reporters.
About IBS Investment Bank
IBS Investment Bank, a division of Institutional Banking Services, North America CORP (IBS, NA®) is a privately held institutional banking firm dedicated to providing investment management and advisory, corporate finance, real estate finance, acquisition and management, and human capital services to its institutional clients. For more information visit www.ibsinvestmentbank.com or www.IBSREICO.com
About MACC Venture Partners
MACC Venture Partners, LLC is an investor and multifamily operator which pursues capital preservation and appreciation through the acquisition and management of stabilized assets in high growth markets. MACCVP is vertically integrated to manage acquisition, asset management, construction management, brokerage and collections. For more information visit www.maccvp.com