Brasa Capital debut value-add real estate fund raises $120m, beats target
Brasa Capital Management’s debut real estate investment fund has exceeded its $100m (€88.6m) fundraising target by 20%.
Founded in March 2018 by former AEW Capital Management executive Eric Samek, Brasa Capital focuses on middle-market multifamily, office, industrial, and retail real estate opportunities throughout the Western US and Texas. The manager targets transactions across the capital stack requiring $5m to $25m of equity.
The fund has committed capital to seven investments including a non-performing loan, mezzanine debt, preferred equity, and joint venture equity.
Samek said that the firm’s investors recognise the investment opportunity that exists as a result of the disproportionate allocation of capital to large transactions.
He added, “Brasa Capital allows our partners to take advantage of the robust Southern California real estate market, a region that offers tremendous potential for value creation.”
Fulya Altunyay/[email protected]