The new fund, which has already completed its first round of financing, will focus on value-added deals in the range of $1.5 million to $10 million.
Such deals are smaller than the transactions of larger funds that offer debt and equity financing comparable to that provided by Haverford, David B. Blenko, president/CEO of Haverford Capital, tells GlobeSt.com."The business we're looking at falls below the radar screen of many of the larger funds," Blenko say. "We typically look at properties that offer us some opportunity to add value."
Haverford, whose investors are mainly institutions and high net worth individuals, invested $2.6 million in equity financing, including funds for renovations and acquisition of a 116-unit apartment complex called Madison Woods in Sacramento, Calif., that sold for $7.57 million.About $20 million of other equity and mezzanine capital deals are already in the pipeline and will close by the end of the year, Blenko says. Haverford's new fund expects to hold the properties for 18 months to three years, he says.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
