First Capital Advisors Sells Half of Assets in Fund I and Launches Real Estate Fund II
WHEATON, Ill., (August 1, 2018) – First Capital Advisors, LLC (FCA) has sold five of the 10 assets in First Capital Advisors Multi-Family Real Estate Fund, LP (the “Fund”) in just over a year achieving a 25.5% property-level Internal Rate of Return (IRR) on realized investments.
“The strong performance of Fund one is attributable to having in depth knowledge of the market, finding strategically located multi-family assets, purchasing them at an attractive price and then implementing our value-add strategy,” said Chris Pope, CEO.
The Fund was seeded with 10 multi-family assets across five states and raised over $57 million. Since the closing on June 30, 2017, 84% of capital has been returned to investors and realized investments have an equity return multiple of 1.81x.
First Capital Advisors Real Estate Fund II, LP launched late in Q2 of 2018. This fund is targeting capital commitments of $100 million and focuses on primarily multifamily assets that present a value-add component in select target markets that promote strong, economic growth.
“Now that we have established a successful track record with Fund 1, we have launched Fund II and have begun to raise funds so that we can take advantage of the many opportunities we see in the market today,” said Pope.
About First Capital Advisors Real Estate Fund II, LP
First Capital Advisors Real Estate Fund II, LP, is a Delaware limited partnership (the “Fund”) established by First Capital Advisors Holdings, LLC (“FCA) to make investments in real estate and real estate-related assets in the Unites States. The Fund will seek investments that present opportunities to enhance yields through improved operations, leasing, renovation or modified capital structure.
About First Capital Advisors Holdings, LLC
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.