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Hedge fund industry redemptions continued in March from the prior month’s level with -$18.31 billion in net outflows, -0.37% of industry assets, according to the Barclay Fund Flow Indicator published by Backstop BarclayHedge.
The properties are spread across South Carolina, Louisiana, Georgia and Tennessee. A joint venture between David Werner Investments, Onyx Partners and Carlton Associates has secured a $103 million mezzanine loan from 3650 REIT recapitalizing their Southern Residential Portfolio, a 12-property bundle of multifamily asset with more than 3,500 units across four states.
$103 million in mezzanine financing from 3650 REIT has recapitalized the existing equity structure of a multifamily portfolio in the South.
Hedge funds recorded another positive month in April, with a total weighted average return of 1.1%, taking the YTD return 5.58%.
Hillcrest Acquisitions is constructing a multifamily property in the Huntsville area. Hillcrest Acquisitions, a New York-based family office that invests in and develops multifamily and skilled nursing properties throughout the eastern U.S., has received a $49.5 million loan from 3650 REIT to complete construction of The Gabriel, a 288-unit community in the Huntsville, Ala., market.