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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).