Source: Praxis Capital / #Apartments #Multifamily
SANTA ROSA, CA - San Francisco Bay Area based Praxis Capital, a private equity real estate investment firm, announced the formation of a vertically integrated multifamily platform, designed to provide its investors and tenants with a higher level of service. The expanded multifamily operation will be integrated with the existing Praxis family of companies.
"We are very excited about our expanded multifamily platform," said Bob Dreher, Senior Vice President / Investor Relations. "Our rapidly growing investor base, the majority of whom have invested in multiple Praxis offerings, will be the direct beneficiaries of this move." The company is projected to invest $100 million in multifamily properties over a 3 to 4 year period, assembling a national, geographically diversified Workforce Housing Portfolio.
The executive team at Praxis brings more than $6.3 billion of transactional experience in the multifamily sector; including institutional management of more than 90,000 apartment units.
"We will now be combining our entrepreneurial approach with an institutional infrastructure; sourcing and managing investments directly," according to Brian Burke, President and CEO, "the result of which will be tighter operational control and more efficient business plan execution."
Praxis' Multifamily platform will now offer a fully integrated platform of services that utilize a socially conscious management approach to maximizing property value and performance as it invests, owns, improves and manages Class B & C apartments which offer a value-add component.
Praxis Capital is a real estate private equity investment firm with over $100 million in assets under management. Praxis is focused on value-add multifamily properties in US growth markets, and brings together discretionary capital and decades of operating experience to unlock embedded value in multifamily real estate.