Argosy Real Estate Opportunity Zone I Holds Final Closing at $300 Million Hard Cap

Phoebe Joseph Named Vice President of Investor Relations for Argosy Real Estate Partners

WAYNE, PA — Argosy Real Estate Partners recently announced the final closing of Argosy Real Estate Opportunity Zone I, L.P. and its parallel funds (“AROZ I”) on December 17, 2021. AROZ I raised $300 million, exceeding its $150 million target size and achieving its hard cap. Investors include an insurance company, family offices and high net worth individuals.

AROZ I is a fully discretionary, closed-end Opportunity Zone fund targeting multifamily, office, retail, industrial, and lodging investments in Qualified Opportunity Zones throughout the United States. AREP has raised $362.4 million for opportunity zone investments through AROZ I, co-investments and partnerships formed prior to AROZ I. To date AREP has closed on eight opportunity zone projects in top MSAs including Nashville, TN; Scottsdale, AZ; and Sacramento, CA. AROZ I maintains a strong pipeline of projects representing $217 million of potential commitments to opportunity zone projects.

Argosy Real Estate Partners specializes in opportunistic, value-add, core-plus, and Opportunity Zone investments in lower middle market real estate projects requiring between $5 and $25 million of equity. Through joint venture structures, Argosy Real Estate Partners invests alongside operating partners who possess substantial market knowledge and a demonstrated track record. The firm currently has approximately $1.7 billion of gross assets and equity commitments under management and manages seven fully discretionary, closed-end funds with an investor base of institutional investors, family offices and high net worth individuals. The investment platform is led by Managing Partners David Butler and Andy Stewart and invests nationally from three offices including its headquarters in Philadelphia and additional offices in Denver and San Francisco.

For more information on Argosy Real Estate Partners, please visit www.argosyrep.com.

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