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CHARLOTTE, NC (June 7, 2021) – Grubb Properties, a leading vertically integrated commercial real estate firm, today announced a first close for Grubb Real Estate Fund VII of $75 million. This represents the largest first close in the company’s history and positions the company well to achieve or exceed the $400 million capital raising target for the fund.
The commitments, originating from both existing and new Grubb Properties’ clients, come from a range of institutional investors, family offices, and qualified high-net-worth individual investors.
Following on the success of Funds I-VI, the Grubb Real Estate Fund VII focuses on multi-family opportunities primarily with its Link ApartmentsSM communities. They focus on key elements that make residents feel like they aren’t forced to compromise on quality, while also driving efficiencies to maximize returns for investors. Through strategic site selection and creative development and design methods, Link ApartmentsSM communities fill the gap between affordable and luxury housing, a sector the company terms “essential housing.”
Targeted to residents earning from 60% to 140% of average median income (AMI), Link ApartmentsSM occupy a unique space in Grubb’s target markets. As the nation emerges from the pandemic, Grubb is finding opportunities in gateway markets out of reach prior to the pandemic, including Los Angeles, New York, and Denver, and opening an office in San Jose, CA, to better explore opportunities in the western U.S.
“Addressing the severe shortage of essential housing is not only a compelling investment opportunity, it’s also a moral imperative,” said Clay Grubb, CEO of Grubb Properties. “The response to Grubb Real Estate Fund VII proves that real estate investors see the potential of essential housing as a discrete investment class.”
About Grubb Properties
Grubb Properties, founded in 1963, is a vertically integrated real estate fund manager focused on the Essential Housing space through its Link ApartmentsSM brand. The company targets residents earning between 60% and 140% of area median income (AMI), directly addressing a growing crisis for essential housing, while providing residents with exceptional living spaces. Grubb Properties maintains a long-term perspective and its careful and measured approach to real estate investment has delivered resilient and impressive returns. Grubb Properties has received numerous sustainability designations and recognitions, and undergoes annual ESG assessments through GRESB. For more information, visit www.grubbproperties.com.
Grubb Properties’ CEO Clay Grubb is the author of the book “Creating the Urban Dream: Tackling the Affordable Housing Crisis with Compassion.”
Media Contact: Emily Ethridge, Corporate Communications Director, eethridge@grubbproperties.com, (704) 405-5148
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