PRG Capital Management LLC has closed its first multifamily fund at $58.5 million. Founded in 2019, PRG Capital Management is an affiliate of multifamily real estate investment and management firm PRG Real Estate.
PHILADELPHIA (PRWEB) OCTOBER 17, 2019
PRG Capital Management, LLC, an affiliate of industry-leading multifamily real estate investment and management firm PRG Real Estate, announced today the final close of the $58.5 million PRG Multifamily Fund I LP (“PMF I”). PMF I provides investors with an attractive total return by investing in multifamily housing real estate and real estate-related interests both as the sole investor as well as through joint venture partnerships. PMF I is the first fund venture for PRG Real Estate, which has a 30+ year track record of successful investments throughout the United States with a current portfolio of over 10,000 units, 275 employees, and $1.25+ billion of AUM.
Brett Gomes, Managing Director of PRG Capital, said: “We are excited about the launch of PRG Multifamily Fund I LP and look to continue delivering outstanding results to our investors. Consistent performance and the strength of our relationships have led to this successful execution. We are grateful to our new and existing investors for their support. We are proud of the new platform and, coupled with our deep transactional experience and industry-leading property management company, are well-positioned to continue to build on this success for the foreseeable future.”
About PRG Capital Management, LLC
Founded in 2019, PRG Capital is an investment management firm created to house all investment and fund management activities for PRG Real Estate. This platform will allow the firm to continue as a market leader in private multifamily housing investing. Led by Sam Foster and Brett Gomes, PRG Capital has broad transactional capabilities which continue the reputation established by PRG Real Estate as an innovative, savvy, and market-leading investor.
About PRG Real Estate
Founded in 1985 by Steven Berger and Jon Goodman, PRG Real Estate is a Philadelphia based real estate firm that acquires and manages quality apartment communities throughout the eastern half of the United States. Since its founding PRG has acquired well over 80 communities and 13,000 apartment units. PRG also has been designated as an Accredited Management Organization by the Institute of Real Estate Management (IREM) and holds membership in the National Apartment Association (NAA) as well as the National Multifamily Housing Council (NMHC). For more information please visit http://www.prgrealestate.com.