Indianapolis, Indiana-based multifamily syndication company BAM Capital is pleased to announce its recent acquisition for the BAM Multifamily Growth & Income Fund III: Autumn Ridge.
Autumn Ridge is a 434-unit institutional quality, garden-style apartment community that was developed in 2017 and 2019. It is located in Waukee, Iowa, one of the fastest-growing suburbs of Des Moines, Iowa.
“The value-add potential both in utilizing our economies of scale in Des Moines and bringing rents in line with the competition in the area more than exceeds BAM Capital’s strict acquisition criteria,” says Tony Landa, Chief Investment Officer.
“Des Moines is an emerging market similar to Indianapolis a few years ago,” says Ivan Barratt, Founder & CEO. Autumn Ridge will be BAM Capital’s fourth multifamily asset in the Des Moines, Iowa MSA.
Autumn Ridge features a diverse set of floor plans, a comprehensive amenity package, two swimming pools, and strong in-place cash flow. With many well-known and stable employers in the area including Microsoft, MercyOne, Wells Fargo, and more, BAM Capital is confident that it can deliver a targeted 15-20% IRR return on investments for its investors.
As part of the vertically integrated The BAM Companies (BAM Capital, BAM Management, BAM Construction), BAM Capital has over 100 years of experience among Executive level staff. With over $700MM assets under management, over $152.5MM in distributions to investors, and 900+ investors across 40+ states, BAM Capital is a proven sponsor with a solid track record.
Autumn Ridge will join Hamilton Station and The Bristol as part of BAM Multifamily Growth & Income Fund III. Hamilton Station and The Bristol are both located in the Indianapolis, Indiana metropolitan statistical area. This offering is open to accredited investors only. To learn more about BAM Capital or this offering, please visit our website.
About BAM Multifamily Growth & Income Fund III
BAM Multifamily Growth & Income Fund III is now accepting capital from accredited investors in anticipation of the next acquisition. The strategy of Fund III is to acquire Class B+ to A- assets that were built after 2000. All assets in this fund have strong, consistent in-place cash flow in markets where there is a supply and demand imbalance along with major economic drivers. By using a fund model, BAM Capital eliminates “single asset risk” through portfolio diversification. The expectation that one or two assets may significantly outperform projections further increases the likelihood of a higher overall return for investors. This offering targets 15-20%+ IRR or 2.0x-2.5x Equity Multiple over a targeted 3-5 year hold period.
About The BAM Companies
The BAM Companies specializes in the acquisition and management of multifamily apartment communities. Headquartered in Indianapolis, Indiana, The BAM Companies consists of BAM Capital, BAM Management, and BAM Construction. This array of real estate services utilizes the knowledge and strengths of its employees and market expertise to achieve maximum benefit for community residents and investors. The BAM Companies currently has over $700 million in total assets under management.
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