Business Wire

Boston Capital Announces Closing of Boston Capital Income & Value U.S. Apartment Fund

Share

Boston Capital, the third largest owner of apartments in the U.S. with over $19.6 billion invested, is pleased to announce the final investor closing of Boston Capital Income and Value U.S. Apartment Fund (“BCIV”). BCIV, a discretionary multi-investor Luxembourg based fund vehicle, includes financial institutions, insurance companies, pensions, and family offices among its investors and will acquire over $350 million in apartment properties throughout the U.S.

“We are very pleased to close BCIV, the latest in a succession of institutional investment vehicles through Boston Capital’s conventional apartment investment arm, Boston Capital Real Estate Partners (“BCRE”),” said Jeff Goldstein, COO and Director of Real Estate at Boston Capital.

The Fund generates high current dividends and capital growth by acquiring and renovating Class B apartment properties located in major and secondary U.S. markets and by targeting a renovated rental price point well below new construction rates, which appeals to a middle and upper middle income renter profile.

BCIV closed in June its fourth acquisition in the Fund, La Costa Apartments in Dallas, and is in the process of renovating three previously acquired properties in Atlanta, Phoenix, and Charlotte. This brings the Fund’s current holdings to 1,330 apartment homes. The Fund intends to acquire two to three more properties through early 2019.

Mark Dunne, Managing Director of BCRE, adds, “We are excited to close BCIV as we continue to innovate the structures and strategies of our apartment investment offerings. With support from our institutional investment partners, BCIV locates and extracts untapped value from existing multifamily properties in infill suburban ring locations in primary and secondary metropolitan areas across the U.S. With four high performing assets already in the Fund, we plan to close out the investment phase within the next 9-12 months and begin marketing the next fund in this series by early next year.”

Citigroup Global Markets acted as placement agent for BCIV.

About BCRE:

BCRE specializes in originating and executing market rate, opportunity-driven, real estate equity investments throughout the U.S. utilizing institutional, private investor and private REIT vehicles. BCRE has invested approximately $1.4 billion in market rate assets, expanding Boston Capital's extensive reach, product coverage and holdings in most major and secondary markets in the U.S.

Contact information

BCRE
Mark Dunne, 617-624-8769
Managing Director
mdunne@bostoncapital.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

The World's First 5nm Generation AI Chip is Taped Out - TeraPixel Technologies, Inc.21.8.2019 14:00:00 CESTPress release

TeraPixel Technologies Inc. (Representative: Naoki Kawahara) taped out “Extrixa Processor” as the first deep-learning AI product on March 8, 2019 as the world's first chip that uses TSMC 5nm. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190821005023/en/ Picture of Mechanical Sample for 5nm Deep Learning AI Processor (Photo: Business Wire) Wafer equipped with ASIC implemented in the world's most advanced process rolls out on August 25 and is scheduled to be available in early September after assembly testing. This 5nm process will be used to check the core performance and power consumption since SRAM cells were not yet prepared at the time of tape-out in March. In the first quarter of 2020, we will tape out the second version with the same functions as the product version with SRAM and other functional blocks. TeraPixel has R & D technology for massively parallel processors with many cores, aiming for the world's highest le

Cummins President and COO Rich Freeland Retiring21.8.2019 13:00:00 CESTPress release

Cummins Inc. (NYSE: CMI) announced today that President and COO, Rich Freeland will retire after forty years of service with Cummins. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190821005396/en/ Rich Freeland (Photo: Business Wire) As part of Cummins’ successions plans, the following leadership appointments are also taking place, all of which are effective October 15. Distribution President Tony Satterthwaite will succeed Freeland as President and COO. Components President Tracy Embree will succeed Satterthwaite as Distribution Business President. Chief Technical Officer Jennifer Rumsey will succeed Embree as Components Business President. Jim Fier will succeed Rumsey as Chief Technical Officer. “I want to personally thank Rich for his many contributions to Cummins and his friendship and support over the 25 years I have known and worked with him,” said Tom Linebarger, Chairman and CEO, Cummins Inc. “He is one of the most

Novalis LifeSciences Launches its First Life Science Investment Fund with $85 Million21.8.2019 12:39:00 CESTPress release

August 20th, 2019, Novalis LifeSciences, an investment and advisory firm for the Life Science industry, announced today that it has raised $85M in capital for its first fund - Novalis LifeSciences Investments I, L.P. Novalis LifeSciences is focused on highly innovative Life Science companies. On the occasion of closing the first fund, Marijn E. Dekkers, founder and chairman, said: “This first fund is a growth-oriented fund that will invest in 8-12 companies that are commercializing breakthrough technologies in various segments of the Life Science industry. This includes drug discovery, life science tools, genomics, synthetic biology, diagnostics, and agricultural biotechnology – all areas with huge unmet needs and exciting opportunities for investors”. About Novalis LifeSciences Novalis Lifesciences LLC, is a globally acting venture capital firm focused on breakthrough technologies in Life Science. Founded and managed by Dr. Marijn E. Dekkers, current chairman of Unilever and former ch

Open Web Automation (OWA): How logi.cals Reinvents the World of PLC Programming and Engineering21.8.2019 12:32:00 CESTPress release

"Never Touch a Running System" is still a central unwritten law in machine and plant engineering. Once an application operates, function and programming are changed as little as possible. This is however no longer up-to-date, as companies with this approach in the automation and engineering process are increasingly lagging behind the requirements for flexibility, time-to-market and quality. Dynamizing the adaptation of the programming of a machine or plant to new tasks requires innovative engineering tools and environments. Open Web Automation (OWA) is logi.cals' answer as a flexible and dynamically evolving automation system that guides the user: from the plant model to configuration, engineering, automated testing, simulation, visualization and beyond. Supporting numerous open standards such as OPC UA, Automation ML or the IEC61131 languages, OWA is the platform for open automation applications. OWA is a modular cloud architecture, which with its browser-based core components, numero

Empirix Announces Support for Traffic Analysis Across 5G Non-Stand-Alone Architectures21.8.2019 09:16:00 CESTPress release

Empirix Inc., a premier global provider of voice and data service assurance solutions, today announced the ability to monitor 5G user and control plane traffic in accordance with 3GPP Release 15 Non-Stand-Alone (NSA) Architecture options 3/3a/3x. Entrusted to monitor and troubleshoot some of the world’s largest networks, Empirix’s service assurance platform, Diagnostix, formerly known as E-XMS, is capable of monitoring both hybrid and pure cloud-native 5G networks. This puts Empirix in a unique position to support communication service providers who have identified a migration path for their networks to 5G. 3GPP option 3x is emerging as the preferred choice for service providers who want to leverage previous-generation LTE networks. Largely based on the introduction of 5G Radio Access, this standard allows mobile providers to enhance both Quality of Service (QoS) and Quality of Experience (QoE) for their customers by integrating LTE core networks with non-standalone 5G radio systems. W

Innodisk Introduces First Hybrid Edge and Cloud SSD Solution with Microsoft Azure Sphere™21.8.2019 08:00:00 CESTPress release

Innodisk, the world’s leading industrial storage provider, unveiled the InnoAGE™ SSD, the world’s first with native Microsoft Azure Sphere™ integration. Formally introduced at the Innodisk-hosted AIoT Summit during Flash Memory Summit 2019 (FMS 2019), the InnoAGE SSD, with Microsoft Azure Sphere inside, enables multifunctional management for smart data analysis and updates, data security, and remote control through the cloud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190821005192/en/ InnoAGE SSD is the first Azure Sphere inside solution with a patent. Enable in-band management and out of band management (Photo: Business Wire) “Our tight-knit collaboration with Microsoft has resulted in real innovation aimed at solving the very real challenges businesses face today,” said Innodisk President Randy Chien. “The InnoAGE™ SSD is the first and only hybrid solution designed solely with the AIoT architecture in mind, utilizing d