Milestone Equity Fund raises $75m.The Milestone Group, a rapidly growing national real estate investment firm, today announced it recently closed Milestone Real Estate Investors I, L.P. ("MREI I"), a closed-end equity vehicle. Milestone is the first third-party real estate sponsor to raise capital through the Deutsche Bank's US Private Wealth Management distribution network. Milestone Group anticipates several follow-on funds of both specified and non-specified assets. MREI I comprises six multifamily properties of 1,532 units in Texas and Florida, with a total capitalization in excess of $75 million. Initial distributions are anticipated to be 8.50% to the investors. The portfolio is made up of Class B assets which are less susceptible to new competition and are more affordable to a greater pool of renters. General Partners Jeffrey Goldberg and Robert Landin reported that the partnership's offering was well received by Deutsche Bank's US Private Wealth Management clients and demand was in excess of supply. "An arrangement of this type has never been done before," noted Mr. Goldberg. "This is the first time a third-party real estate asset sponsor has worked directly with a bank's private wealth management distribution network. Deutsche Bank's interest in real estate investment opportunities for its clients enables us to execute quickly on our investment strategies." "This vehicle provides clients seeking direct exposure to real estate assets an investment option within a diversified and professionally managed fund", said Thomas Boytinck, Head of Real Estate Investment at Deutsche Bank's US Private Wealth Management division. "Our product is a whole new investment vehicle Investment Vehicle In general, any method by which to invest.Notes: This term is used very broadly. It refers to anyplace you can put your money. For example: stocks, bonds, mutual funds, options, futures, etc.You'll often hear it used in sentences like this: "Mutual funds are a good investment vehicle for beginning investors who aren't confident enough to pick stocks themselves." See also: Investing, Investment offered to Deutsche Bank clients," added Mr. Landin. "It is sophisticated and institutional-like in terms of fees, reporting and due diligence. We are bringing an institutional approach to the high net worth individual investor, family office and small and medium-sized endowments and pension funds." Milestone believes that multifamily real estate possesses numerous advantages for the high net worth investor. It provides excellent current income and stable cash flows in an extremely liquid asset Liquid asset Asset that is easily and cheaply turned into cash-notably, cash itself and short-term securities. class. From the standpoint of portfolio management benefits, multifamily offers strong risk-adjusted returns with low volatility and significant diversification advantages.
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