Silverfern exits Tempo Apartments

The Silverfern Group has exited its stake in Tempo Apartments as a result of the latter property’s acquisition by an unidentified “large institutional owner of multifamily assets.” No financial terms were disclosed. Based in Oxnard, California, Temple is a multifamily community.

PRESS RELEASE

OXNARD, Calif., May 9, 2018 /PRNewswire/ — The Silverfern Group, an investment management firm making direct investments in middle market private equity, real estate and private debt globally, today announced that it has exited its investment in Tempo Apartments following the successful sale of the property to a large institutional owner of multifamily assets.

Tempo is a 235-unit, Class-A multifamily community located within the RiverPark Master Planned Development in Oxnard, CA. Located approximately 35 miles west of the Los Angeles city limits, the garden-style property boasts best-in-class amenities such as an outdoor pool and freestanding fitness center and is adjacent to The Collection at RiverPark, a shopping center anchored by Whole Foods Market, Target, Century Theatres, and REI.

Silverfern Managing Director Andrew Isikoff said: “Silverfern’s investment in Tempo exceeded expectations, especially when considering today’s yield-starved environment. The investment attests to the significance of possessing a sound conviction in both macro real estate trends and local market dynamics, as well as selecting experienced partners who demonstrate a strong track record of investing within the sector.”

Silverfern Co-Managing Partner Reeta Holmes added: “Silverfern is excited to announce the first exit in its real estate portfolio and is pleased with the results from the successful sale of Tempo Apartments. The investment highlights Silverfern’s capabilities in partnering with top-notch real estate firms with deep expertise to achieve attractive risk-adjusted returns. As an excellent partner with more than $3.0 billion in discretionary capital and 100+ employees, The Wolff Company seamlessly oversaw the development and operations of the property while capitalizing on strong market fundamentals to deliver on the investment strategy.”

About Silverfern
Founded in 2001, Silverfern is amongst the few truly global middle-market, multi-asset class, investment management firms in the world today. Silverfern invests on behalf of both institutional investors and a global network of more than 65 of the world’s largest and most sophisticated multi-billion-dollar single family offices, and has a global partnership with the Citibank Private Bank. Through its offices in New York, Amsterdam, Frankfurt and Sydney, Silverfern makes direct, co-control investments in middle market private equity, real estate, and private debt globally. Silverfern’s investment strategy seeks to mitigate systemic risk in its portfolio by pursuing attractive risk-adjusted returns on a global basis, while at the same time seeking to manage local/market risk through its strategy to partner with qualified, local, investment partners on each of its investments. Additional information is available at www.silfern.com