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Greater Pittsburgh Metropolitan Area and Surrounding Regions
"A $30 million fund targeting stabilized but underutilized multifamily properties in Pittsburgh, Pennsylvania, and surrounding regions, along with some targeted exposure to office and retail properties. Currently seeded with $50 million in purchases and seeking additional assets with in-place cash flow of at least 8% with upside through capital-light improvements."
-Daniel Croce, Birgo
Fund Type | Multifamily, Office & Retail |
Investment Timing | Equity called over time |
Market(s) | Greater Pittsburgh Metropolitan Area and surrounding regions |
Target Fund Size | $30MM* |
Date Opened for Investments | April 2018 |
Amount Raised | $22MM |
Amount Deployed | $16MM |
Est. Time to Next Investment | Q4 2020 |
Est. Time to Initial Distribution | April 2021 |
*Up to $50MM |
All answers are provided by the sponsor, Birgo, or its representatives.
What is your investment strategy/business plan for the Fund?
Daniel Croce, Birgo: "Birgo Capital acquires and operates stabilized but underutilized multifamily properties that are often overlooked in the heartland of America."
What are the most important aspects of the fund for investors?
Daniel Croce, Birgo:
What are the risks and how are you mitigating those risks?
Daniel Croce, Birgo: "The fund’s primary risks are CapEx risk, unit turnover, tax reassessment, and commercial exposure:"
How has COVID-19 impacted your business plan?
Daniel Croce, Birgo: "Birgo's existing portfolio has thrived despite the pandemic, the tenant base has a resilient income stream, and multifamily properties are increasingly viewed as a safe haven for investors. Some notable points include:"
"A $30 million fund targeting stabilized but underutilized multifamily properties in Pittsburgh, Pennsylvania, and surrounding regions, along with some targeted exposure to office and retail properties. Currently seeded with $50 million in purchases and seeking additional assets with in-place cash flow of at least 8% with upside through capital-light improvements."
-Daniel Croce, Birgo
Fund Type | Multifamily, Office & Retail |
Investment Timing | Equity called over time |
Market(s) | Greater Pittsburgh Metropolitan Area and surrounding regions |
Target Fund Size | $30MM* |
Date Opened for Investments | April 2018 |
Amount Raised | $22MM |
Amount Deployed | $16MM |
Est. Time to Next Investment | Q4 2020 |
Est. Time to Initial Distribution | April 2021 |
*Up to $50MM |
All answers are provided by the sponsor, Birgo, or its representatives.
What is your investment strategy/business plan for the Fund?
Daniel Croce, Birgo: "Birgo Capital acquires and operates stabilized but underutilized multifamily properties that are often overlooked in the heartland of America."
What are the most important aspects of the fund for investors?
Daniel Croce, Birgo:
What are the risks and how are you mitigating those risks?
Daniel Croce, Birgo: "The fund’s primary risks are CapEx risk, unit turnover, tax reassessment, and commercial exposure:"
How has COVID-19 impacted your business plan?
Daniel Croce, Birgo: "Birgo's existing portfolio has thrived despite the pandemic, the tenant base has a resilient income stream, and multifamily properties are increasingly viewed as a safe haven for investors. Some notable points include:"
Pittsburgh, PA
Available to Registered Users
Available to Accredited Investors:
Daniel Croce, Birgo: "Pittsburgh and its surrounding regions have a unique combination of significant appreciation potential from a bursting technology scene and favorable demographics coupled with downside protection arising from diverse regional economic stability. This slow-and-steady performance served Pittsburgh well in the Great Recession and is expected to prove its further resilience in the years to come. Cap rates are also notably higher in this market than in similarly sized metro areas around the country, providing an opportunity to produce attractive cash flow today, with the potential for outsized returns should cap rates normalize inland from the coasts over time. Lastly, additional downside protection arises from deep affordability, as Pittsburgh is consistently rated among the nation’s most affordable and livable cities. To dive deeper into our thesis, check out our recent blog article on the subject."
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