November 10, 2022
LEM Capital Announces Sixth Fund Closing in Twenty Year History
Philadelphia, PA – LEM Capital, L.P. (“LEM”) today announced that LEM Multifamily Fund VI (the “Fund”) has held its final close at $450.8 million1 in equity commitments hitting its hard cap. The Fund will invest in Class B value-add multifamily properties in primary and secondary suburban markets across the United States. Over seventy percent of investors in the Fund were repeat investors from previous private equity offerings including the three lead investors. “We believe our investors appreciate that we raise deliberately smaller funds, which allow us to carefully invest and efficiently harvest our investments,” said Jennifer Clausen, a Partner at LEM. “We are grateful for the continued support of our many repeat investors and for the new relationships we established in this Fund.” To date, the Firm has raised approximately $1.8 billion in investor commitments.1
The Fund held its first closing in July 2021 and has since acquired six properties located in strong growth markets including Atlanta, Richmond, Sacramento, Dallas and Tucson totaling approximately $129 million in equity.2 Since starting its multifamily only strategy in 2011, LEM has acquired 109 multifamily properties across 27 markets and has sold 74 of those investments generating consistent returns.3
About LEM Capital
LEM Capital is a real estate private equity firm with a 20-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.
The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can add value to help increase rents through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of nationwide operating partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.
Since 2002, LEM has raised almost $1.8 billion in investor commitments1 and has acquired over 26,000 value-add apartment units since 2011.2
Notes: 1 – As of August 16, 2022. 2 – As of June 2022. 3 – As of October 4, 2022.