June 5, 2020 Comments Off on Back Nine Apartments Launches New Multifamily Fund Views: 1243 Chicago News, North Side, Top Chicago

Back Nine Apartments Launches New Multifamily Fund

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Back Nine Apartment Investors, the Chicago-based firm established in 2017 by principals Jill Sickle, Doug Imber and Kate Varde, is launching its next multifamily investment fund. The $50-million fund will focus on acquiring assets that are either stabilized or that require a value-add strategy, regionally and nationally.

“Unfortunately, the COVID-19 crisis has created economic dislocation across the entire economy,” said Sickle. “However, companies that are well capitalized should be able to take advantage of strong buying opportunities. Our $50-million fund target allows us to attract family offices, small endowments and high-net worth individuals.”

Varde, who like Imber is also a principal at Essex Realty Group, said, “While many sectors of the economy are unfortunately struggling, well-located multifamily assets are strongly positioned for long-term success.”

Imber added, “We view this period as potentially having historic buying opportunities similar to what we experienced after the Great Recession.”

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