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One Trent Launches $50M Acquisition Fund for MF
Seattle-based real estate development firm One Trent has launched a new multifamily investment fund, One Trent Opportunity Fund 23, focused on targeting distressed acquisition opportunities in the Puget Sound market. With a goal of raising $50 million to purchase existing in-service multifamily assets below replacement cost, the firm is aiming to deploy capital over the next 36 months.
“At One Trent, we are committed to seizing new opportunities in evolving markets through strategic partnerships and investments,” said Principal Trent Mummery. “Our firm has long been focused on delivering exceptional products that raise the standard in the markets we operate, and the One Trent Fund is a natural evolution of our growth,” added Principal Patrick Ashman.
As co-sponsors of the new fund, Mummery and Ashman have more than 40 years combined experience acquiring, repositioning, and developing multifamily and mixed-use projects. Founded in 2017, One Trent has delivered more than 3,000 units in the last ten years. The firm has five projects in development, three projects under construction, and has completed four projects in the past 15 months.
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