RREAF Holdings LLC, a private real estate investment and development firm based in Dallas, Texas announced its plans today to acquire 12 multifamily complexes in the sunbelt region. The transaction includes seven communities in Texas, four in Arkansas and one in Mississippi. The firm already owns and operates over 40 multifamily complexes in the region and an additional seven hotels in Florida, Georgia and South Carolina, with another to open soon in Southlake, Texas.
The transaction had gained a lot of attention, as sales of commercial real estate have generally slowed during the global COVID pandemic.
"RREAF continues to believe in the multifamily sector, as it has proven more resilient and less volatile during the COVID crisis, and we believe in our core ability to add value to the properties using our vertically integrated approach," said Kip Sowden, chief executive officer at RREAF.
The Sunbelt Region continues to see strong economic activity, and net positive population growth according to data by the National Multifamily Housing Council, and CARES Act provisions such as government-sponsored enterprises (GSE) forbearances and economic support for residents has contributed to the stability of the segment. RREAF has a proven track record in upgrading, renovating, and improving the quality of services provided to residents at its communities, and its property management arm, RREAF Residential, is actively managing many of its portfolio properties.
The multi-million dollar transaction includes several capital contributors and major lenders. The transaction is not open to the general public, but Qualified Purchasers and Accredited Investors can sign up on the company's website to learn more about the QP and accredited investor 506(c) private placement offerings in conjunction with this investment.
About RREAF Holdings LLC
RREAF Holdings LLC ("RREAF") is a privately-held, vertically integrated commercial real estate company based in Dallas, Texas, with roots that go back nearly 35 years in the industry. RREAF focuses its portfolio of commercial real estate projects and development under three platforms aimed primarily at catering to the middle-America workforce community: programmatic value-add multifamily acquisition, opportunistic hospitality and resort redevelopment, and core ground-up development. RREAF employs over 250 people, mostly across the South and Southeastern U.S., handling a wide range of Commercial Real Estate investment matters from in-house underwriting/due diligence, capital markets, acquisition, asset management, property management, construction management, project development, accounting, and legal support. RREAF, along with its debt and equity alliances, has built a diversified portfolio in its core competencies in excess of $850MM over the past five years and expects to continue expanding these platforms. RREAF's Mission is to enhance the lives of its investors, partners, and property residents and guests by providing outstanding service, excellence, and expertise, with Integrity, Vision, Values, and Purpose. For more information, please visit www.RREAF.com.
