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Bain, Magnolia Form $900M Multifamily Joint Venture

by therealdeal.com posted 1week ago 12 views
Bain Capital Real Estate and Magnolia Capital are teaming up to acquire and renovate multifamily assets. The joint venture will deploy $900 million on behalf of investors to purchase garden-style properties built between 1975 and 2000 with a middle-income renter profile, in what the companies deem well-located areas — i.e. suburban areas outside of Gateway cities. It will then pour money into fixing up those properties. Middle-income tenants were largely buffered from the employment losses The post Bain, Magnolia target fixer-uppers with $900M joint venture appeared first on The Real Deal New York.

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