Nate Kline, chief investment officer/principal of One Wall Partners.
NEW YORK CITY— OneWall Partners, an investment management firm focused on workforce housing, has launched the Nova Appian Preferred Income Fund I, a $50m preferred equity fund aimed at transit-oriented workforce housing in the northeast.
The five-year fund has a preferred return of 9% to 10%, and a target return of 11% to 13% annualized net of fees and expenses. Since the announcement, OneWall has committed $2.5m and received soft commitments from accredited investors, as well as three institutional investors for an estimated $15 million investment. OneWall has been in the workforce housing game for some time and launched the fund to achieve diversified and risk-adjusted returns in an asset class it knows best; transit and lifestyle-oriented workforce housing. The firm plans to acquire 8 to 15 multi-family residential assets in Pennsylvania, New Jersey, New York and Connecticut.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
