Veloce Capital Raises $6.5+ Million in Oversubscribed Multifamily Syndicate Offering
News provided byACCESSWIRE
Nov 21, 2023, 2:50 PM ET
HACKENSACK, NJ / ACCESSWIRE / November 21, 2023 / Veloce Capital, a Hackensack, New Jersey-headquartered real estate private equity (REPE) firm, is proud to announce that it has raised over $6.5 million in equity from limited partners (LPs) as part of its latest multifamily syndicate offering.
"We received significant interest from new and existing partners," says Surf Dinani, the founder and CEO of Veloce Capital. "As a result, our latest offering was oversubscribed, providing ownership to investors on stabilized assets."
Veloce Capital will use the equity raised from LPs and $31.5 million in debt financing to invest in 10 multifamily assets in various parts of Northern NJ.
All ten (10) real estate assets are within commuting distance of New York City, featuring a mix of 124 units ranging from 6 to 27 apartments per building that will produce consistent income for the limited partners.
"While many of our syndications involve ground-up multifamily construction projects, we're also excited to offer investors interested in receiving steady income the opportunity to diversify and participate in deals involving existing stabilized multifamily assets," notes Surf. "This latest investment offering is a good example of our goal, delivering more ways to invest ."
Beyond the benefit of immediate cash flow, LPs participating in Veloce Capital's 10-property syndication stand to gain from demographic tailwinds-factors that lead to income growth over time. "Increasingly, residents are having trouble affording rents in areas like New York City, so they're relocating to commuter cities in New Jersey," explains Surf. "This is resulting in sustained population growth in our markets, which means higher property prices, stronger rent growth, and shorter lease-up periods," he continues. "Our investing partners expect to receive even more income in subsequent years."
These multifamily assets are well-positioned to experience substantial appreciation over the medium- and long-run. When coupled with a strong focus on price discipline, Veloce Capital's LPs can expect upfront and ongoing returns from capital appreciation. "We are able to provide roughly $10 million in equity value for our investors on day one by buying and structuring right."
"Additionally, because of steady appreciation throughout our holding period, our partners can expect to earn double-digit returns," Surf explains. "We anticipate that we'll be able to exit out every dollar of investor equity by the end of year three."
About Veloce Capital: Veloce Capital, LLC is a real estate private equity (REPE) firm that acquires, rehabilitates, and invests in multifamily assets. Founded in 2020, the firm boasts four diverse investment offerings, allowing accredited and non-accredited LPs to passively invest in new and existing multifamily properties across dozens of rapidly growing, developer-friendly cities in the United States.
About Surf Dinani: As founder and CEO of Veloce Capital, Surf is in charge of sourcing, structuring, and financing multifamily properties on behalf of the firm and its investors. Across his 15-year career as a real estate investor, Surf has taken joint venture (JV) equity and mezzanine equity positions in more than 1,000 real estate transactions-many of which involve multifamily assets located in Opportunity Zones (OZs), secondary, and tertiary markets. Before venturing into real estate, Surf was involved in various businesses which he ran, operated, and successfully exited.
Geoffrey Smith, (201) 786-6300
SOURCE: Veloce Capital
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