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Laramar on Track to Buy $1.4B in Assets

With the closing of a $350-million fund and acquisition of four communities, Chicago based Laramar Group is on track to gain more than $1-billion worth of assets. The firm recently completed fundraising for the Laramar Multi-Family Value Fund.

By Sule Aygoren Carranza | Updated on January 09, 2007

Sule Aygoren Carranza is managing editor of Real Estate Forum and editor of Multi Housing forum, from which this article is excerpted.

Chicago—With the closing of a $350-million fund and acquisition of four communities, locally based Laramar Group is on track to gain more than $1 billion worth of assets. The investment and management company recently completed fundraising for its first discretionary, commingled vehicle, the Laramar Multi-Family Value Fund.

Laramar founder Jeffrey Elowe says there were several reasons behind the firm’s decision to form the fund. “A year and a half ago, we felt market forces were very good and our track record and team was strong,” he explains. “For our organization, creating a fund was the best way to go forward and continue our brand.”

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