DENVER, Oct. 7, 2024 - Forum Investment Group ("Forum" or the "Firm"), a private real estate investment management firm specializing in the multifamily sector, announced the final close on September 30, 2024, of one of its investment vehicles specializing in multifamily private credit. Forum exceeded its target raise by 2.2x, firmly establishing the Firm's multifamily private credit strategy.
This investment vehicle focuses on providing gap financing in the form of mezzanine debt, preferred equity, participating preferred equity, and joint-venture equity to qualified third-party sponsors supporting their ground up developments, value-add repositioning, and acquisitions of multifamily properties in targeted high-growth markets across the United States.
"I am proud of the team and this final close, which represents a significant milestone for the Firm's multifamily private credit strategy," remarked Forum Founder & Chief Executive Officer, Darren Fisk. "We are grateful to all of our investors for their trust in and support of Forum."
Jay Miller, Chief Investment Officer of Forum, commented, "We are pleased to have completed the raise of our first private credit strategy investment vehicle. I am delighted that we exceeded our target allowing us to deploy additional capital into the market. We believe this capital raising success underscores the growing demand for private, non-bank financing to multifamily developers and we look forward to continuing to do what we can to provide these kinds of creative, gap financing opportunities to qualified sponsors in the future."
Forum's private credit investment team is led by seasoned professionals and co-Portfolio Managers, Tom McCahill and Joe Chickey, who, together, bring over 50 years of combined experience in the field. "Tom and I are proud of the proprietary and extensive network we have cultivated and believe it is because of our relationships with our various partners that we are able to directly source over 88%[1]of the private credit strategy's investment portfolio," said Joe Chickey.
About Forum
Forum is a private real estate investment management firm specializing in the multifamily sector. With assets in over 20 states, Forum built a foundation specifically in development and evolved into acquisition and financing. In 2018, the Firm established its investment management platform to offer institutions and financial intermediaries access to multifamily debt, private credit, and equity exposure. For more information, please visit ForumRE.com.
Contacts
Edward Lopez
Prosek Partners
Elopez@prosek.com
1 Figure reflects the percentage of multifamily private credit investments that were directly sourced off-market through Forum's private credit investment team's network of relationships (e.g sponsors, banks, or capital partners) and exclude opportunities presented by intermediaries or brokers for the period August 31, 2021 through September 30, 2024. More information about this figure is available upon request by contacting info@forumig.com.
SOURCE Forum Investment Group
