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Build Introduces $42M Investment Fund, Plans 2,000 MF Units Across Bay Area
San Francisco-based Build raised a $42.1 million GP Co-Invest Fund to develop new multifamily residential projects throughout the Bay Area. Build Partner Investments, LLC (BPI) is its first investment fund, and will enable the company to acquire new residential development sites and construct three ‘seed’ projects totaling more than 2,000 new residential units. It will also acquire new Bay Area residential development sites.
Build’s Scott Eschelman says, “BPI meets a key strategic objective for Build by securing the requisite sponsor capital to match our extraordinary development pipeline and, with our institutional investment partners, will capitalize in excess of $1 billion worth of San Francisco Bay Area multifamily developments. Additionally, BPI will provide the liquidity for opportunistic site acquisitions as we transition market cycles.”
Build has been one of the City’s most prolific housing developers, having recently completed 117 units in the Dogpatch neighborhood (pictured), with 136 units under construction, and 2,000 units fully entitled.
*Pictured 1532 Harrison Street in San Francisco’s West SoMa neighborhood
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