Axia completes $13 million investment to secure multifamily asset
SALT LAKE CITY, UT / ACCESSWIRE / December 18, 2024 / Axia Partners, an emerging commercial real estate investment firm, has acquired the Midtown Park multifamily property in the growing market of Tulsa, OK. The acquisition of this 208-unit property was structured as split ownership between an exclusive direct investment offering (SPV) and as a part of the firm's final acquisition for its second diversified real estate fund, the Axia Value Development Fund.
The investment opportunity included a combination of favorable debt terms, a desirable unit mix and the opportunity to acquire a stabilized asset in a growing market with clear potential for strategic value-add. Moreover, the project will contribute to the city's ongoing revitalization efforts while also providing much-needed modern living spaces to the local community.
"With a higher-than-average population growth, Tulsa's rental market is poised to outperform most other Sunbelt markets," said Jeremy Long, managing partner and director of asset management of Axia Partners. "This investment opportunity is characterized by its large potential for strategic value-add, delivering strong, risk-mitigated returns to our investors."
Midtown Park is Axia's second recent acquisition in Tulsa. Earlier this year, the firm also acquired Cedar Lane Apartments, a seven-building, 97-unit multifamily complex. Axia is planning property and unit renovations as well as numerous operational improvements to both apartment complexes.
Axia Partners is an emerging commercial real estate investment firm with a diversified portfolio of commercial properties. It was founded to provide individual investors access to private, passive real estate opportunities, offering strong tax benefits and top-tier, risk-adjusted returns. The company currently manages two funds and three direct investments with over $135million of assets under management (AUM), including a mix of multifamily, industrial, RV parks and self-storage. Axia Partners aims to offer robust portfolio management and transparency while remaining a nimble and adaptable fund manager. The company is built on the core values of community, excellence and value creation. The firm was founded in 2020 and is headquartered in Lehi, UT. More information is available at AxiaPartners.com.
Axia Partners conducts offerings pursuant to Regulation D Rule 506(b) and Regulation D, Rule 506(c) of the Securities Act. The information contained within this press release is neither an offer to sell nor a solicitation of an offer to buy any securities described herein. Certain statements in this press release are "forward-looking statements." These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which will likely to cause actual results to differ materially. Therefore, investors should not rely on any of the forward-looking statements contained herein.
The AUM figure in this press release is based on unaudited financial information and is subject to verification through future audits.
Contact: Steve Honig, The Honig Company, LLC, 212-401-4875, press@honigllc.com
SOURCE: The Honig Company, LLC
View the original press release on accesswire.com
