Largest capital raise since inception for evergreen real estate fund
Annual offering closes for 2020; income-focused private REIT to re-open to investors January 1
Humphreys Capital, a leading real estate investment company, today announced the firm raised $58 million in its annual offering of Humphreys Fund I, LLC ("Fund I"). It is the largest equity raise for Fund I since its formation in 2012. This year’s equity raise was 73% larger than in 2019, continuing a trend of increasing capital raises. The 2020 offering closed June 30th and a new offering is expected to open to Accredited Investors on January 1, 2021.
As it has since inception, Fund I focuses on investments in the multifamily, industrial, office and retail sectors in high-growth cities across the Southeast and Southwest United States. The investment team seeks opportunities in long-term buy-and-hold real estate in prime locations, established properties offering stabilized cash flow with potential for value-add, and infill development in proven submarkets. The income-focused private REIT had a portfolio of 67 assets with a property value of more than $597 million as of December 31, 2019. Cash distributions from the fund have increased each year since its formation, and investors in the fund have experienced a 14.29% net IRR since inception. The minimum initial investment for Fund I is $500,000.
"We are pleased to complete this ninth annual offering of Humphreys Fund I, our most successful capital raise to date," said Kirk Humphreys, Founder and Chief Executive Officer, Humphreys Capital. "More than 45% of this offering was raised after COVID-19 put the world on pause, indicating investors’ appreciation of our diversified strategy and record of consistently producing income. We want to thank our new and returning investors for their confidence in Humphreys Capital, particularly in light of the economic hardships and uncertainties. It is gratifying to know that, even in this difficult market, Fund I has continued to provide consistent distributions to high-net-worth individuals, family offices and institutional investors across the country. Looking ahead, we will continue our long-established, relationship-driven approach to sourcing off-market real estate transactions on behalf of our investors."
For information on Humphreys Fund I, please contact:
Managing Director, Investor Relations
About Humphreys Capital
Humphreys Capital is a real estate investment company that acquires, develops and operates income-producing, multi-sector properties including industrial, multifamily, office and retail. The firm’s investment and development focus is on dynamic cities exhibiting diverse growth across the Southeastern and Southwestern United States, where it specializes in privately negotiated off-market, mid-size deals of institutional quality. The multigenerational team, which has more than 170 years of combined experience, provides seasoned expertise and exposure to diversified commercial real estate for accredited and institutional investors. The firm has raised more than $400 million since inception across three funds. Visit www.humphreyscapital.com for more information.
The information provided is for informational purposes only and should not be considered investment advice or a recommendation or solicitation of an offer to invest in any fund or security, including Humphreys Fund I, LLC ("the Fund").
Past performance is not indicative of future results. There are a number of risks associated with real estate investing. In addition, there are a number of risks associated with investing in the Fund, and those risks are outlined in the Fund’s private placement memorandum which should be read carefully and used as the offering document for any consideration of an investment in the Fund.
The Fund’s net Internal Rate of Return ("IRR") is an annualized return calculated with the sum and timing of investors’ capital contributions and distributions to investors net of management fees, Fund expenses, and manager’s return using a terminal value as of the calculation date.