Investment firm still sees availability for construction debt

In May, Miami-based real estate investment firm Participant Capital Advisors announced the launch of its latest fund, the Participant Capital Sun Belt Multifamily Development Fund 1. It targeted $250 million in commitments to allocate to multifamily development projects in the Sun Belt region.

Daniel Kodsi owns and controls both Participant and Miami-based Royal Palm Companies, which has developed 50-plus real estate projects over 40 years. He formed Participant Capital, to be able to raise fund capital to invest in the projects that Royal Palm develops, Participant Capital President Bernie Wasserman told Multifamily Dive.

The new fund’s primary target is Florida, where it hopes to have its first closing by the end of this month...

To view this article on Multifamily Dive, click here.