Curated News
By: NewsRamp Editorial Staff
February 20, 2025
Ballast Rock Reveals Strong Performance of Sunbelt Multifamily Funds I and II in 2024
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- Ballast Rock's Sunbelt Multifamily Funds generated significant investor distributions, providing a competitive advantage for investors.
- Ballast Rock strategically acquired and disposed of properties, maintaining an average capitalization rate of 7.0% in 2024 for Sunbelt Multifamily Funds.
- Ballast Rock's focus on delivering clean and affordable homes for residents contributes to positive change in communities, aligning interests with investors.
- Ballast Rock's continued underwriting of assets in the Southeast presents opportunities for future acquisitions with strict investing standards for Sunbelt Multifamily Fund III.
Impact - Why it Matters
This news highlights the successful performance of Ballast Rock's multifamily funds, showcasing the firm's ability to deliver returns for investors in a challenging real estate environment. Investors can gain insights into the opportunities presented by investing in workforce housing in the Southeast.
Summary
Ballast Rock announced the 2024 year-end performance of Sunbelt Multifamily Funds I and II. SB1 acquired 9 properties, generating $70.55 million in gross proceeds. SB2 closed the acquisition of 9 properties for $105.36 million. Both funds have made significant investor distributions.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Ballast Rock Reveals Strong Performance of Sunbelt Multifamily Funds I and II in 2024
