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2/07/22
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Los Angeles-based Base Equities has entered into a strategic joint venture partnership with Alex. Brown Realty (ABR), an independent real estate investment manager specializing in value-add, opportunistic, and core-plus investments in the middle market.
ABR Chesapeake Fund VI, a value-added real estate fund sponsored by ABR, has committed $26 mil to Base Equities’ strategy, which is focused on providing small-balance ($1-5 mil) preferred equity for commercial real estate investments, with an emphasis on value-add multifamily transactions in the $5-30 mil range. Base Preferred Equity Fund I is continuing to raise capital and is on track to achieve its target of $50 mil in commitments dedicated to the strategy.
According to Eli Moghavem, a Co-Founder and Principal at Base Equities, the fund is targeting an attractive risk-adjusted return, generated from in-place cash flows, up-front payment reserves, and appreciation realized after the implementation of approved value-add programs.
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