AURORA, CO-E2M Strategic Fund, LP, a private equity fund of Dallas-based E2M Partners, in partnership with Wood Partners, has purchased Del Arte Lofts & Flats.
The property is a 351-unit class B multifamily community in the Denver suburb of Aurora. The investment is the seventh portfolio purchase for E2M Strategic Fund, bringing total assets under management to more than $160 million.
Launched in late 2011, the E2M Strategic Fund, the fourth private equity fund of E2M Partners, is seeking to raise $350 million in equity with $89 million in commitments secured. E2M Partners anticipates closing the fund by year-end 2013. The fund targets multifamily, industrial, hospitality, senior living and retail properties in strategic markets with strong population and job growth. It emphasizes investing in cash flowing assets below replacement cost, with the goal to add value through a comprehensive repositioning strategy.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
