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$400M Fund Shops for Southeast Multifamily Properties

ATLANTA-Locally based-Southeast Capital Partners and a northeastern partner are looking to pay between $70,000 and $90,000 a unit for multifamily rental properties under 10 years old that serve the upper-middle and high-end markets. Atlanta, Nashville and Tampa are prime targets.

By Marita Thomas | Updated on July 10, 2002

ATLANTA-Locally based-Southeast Capital Partners and an unnamed noretheastern real estate opportunity fund have formed SE Apartment Investors I, LLC, a $400-million fund specifically targeted to acquiring multifamily rental properties in the Atlanta, Nashville, Florida and North Carolina markets.

Jay T. Clark, an SECP principal, tells GlobeSt.com the group is “looking for what I call an A product–that is, complexes 10 years old or less. They can be a little older if they fit our other criteria.”

The other criterion includes an “upper-middle or high-end” tenancy. “We will pay in the range of from $60,000 to $90,000 a unit,” Clark says.

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