Back Nine Apartments Launches New Multifamily Fund
Back Nine Apartment Investors, the Chicago-based firm established in 2017 by principals Jill Sickle, Doug Imber and Kate Varde, is launching its next multifamily investment fund. The $50-million fund will focus on acquiring assets that are either stabilized or that require a value-add strategy, regionally and nationally.
“Unfortunately, the COVID-19 crisis has created economic dislocation across the entire economy,” said Sickle. “However, companies that are well capitalized should be able to take advantage of strong buying opportunities. Our $50-million fund target allows us to attract family offices, small endowments and high-net worth individuals.”
Varde, who like Imber is also a principal at Essex Realty Group, said, “While many sectors of the economy are unfortunately struggling, well-located multifamily assets are strongly positioned for long-term success.”
Imber added, “We view this period as potentially having historic buying opportunities similar to what we experienced after the Great Recession.”
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