Real Estate Technology Ventures has closed an early stage venture fund focused on making investments in technology for the multifamily industry.

Real Estate Technology Ventures I is a $108 million venture fund that invests in technology for the multifamily industry. “We want to identify innovative companies founded by strong entrepreneurs that will help our limited partners better operate their portfolios,” said John Helm, managing director at Real Estate Technology Ventures.

The limited partners include five major multifamily real estate investment trusts: Aimco, Boardwalk, Essex, MidAmerica, and UDR; and the owners of Starwood Capital Group, Cortland, and GID, which own or manage almost one million rental units. They consider the new technologies in the $31.8 trillion real estate industry as investment opportunities.

The aim is to provide entrepreneurs with immediate access to some of the largest multifamily and single-family operators in the U.S., and perhaps, reduce the sales cycles for their services. According to Real Estate Technology, there are more than 40 million rental units in the U.S. RET Ventures’ deep ties within the real-estate industry give it a unique ability to gauge the market’s appetite for new technologies and help create market leaders.

RET Ventures is led by John Helm, who worked as chief financial officer of Marcus & Millichap Real Estate Investment Brokerage Co. before building and selling AllApartments-SpringStreet and MyNewPlace. Also, he was Venture Partner at DN Capital in Germany.

“RET Ventures has created a unique win-win proposition built upon their extensive experience in real estate technology and proven ability to identify high-growth companies,” said Michael Schall, president and CEO of Essex Property Trust.

Liquid Capital Real Estate Partners and Wilson Investment Properties have acquired a $51.2M, 45-acre multifamily complex in Norcross, Ga.

The Fields at Peachtree Corners is a garden-style apartment community comprised of 41 residential buildings offering a mix of one-, two-, and three-bedroom units, totaling just under 500,000 square feet. The strategy is to drive rent growth through upgrading existing unit interiors, as well as improving and adding to the amenities and common areas.

Liquid Capital and Wilson Investment Properties selected the Atlanta metro due to afavorable tax benefits, low cost of living, and access to transportation, infrastructure and education. Rapid population and economic growth, a flourishing job hub, and a wealth of new development in and around Atlanta's major business districts make the Fields at Peachtree Corners highly attractive for the multifamily investor's portfolio.

"These offerings allow our investors to diversify their investment portfolios outside of stocks and Wall Street," said Tom Wilson, principal at Wilson Investment Properties. "Many of our clients love that they can invest in an institutional grade product for a fraction of the cost using the expertise of an experienced syndicator." Investors will be receiving attractive yields and immediate cash flow distributions.

Liquid Capital is a multifamily investment company based in New Jersey that specializes in repositioning underperforming apartment communities in strong markets. Wilson Investment Properties, founded in 2003 in Silicon Valley, is a provider of commercial real estate syndications in industrial, office, retail, land development multifamily, and assisted living.

Fannie Mae will invest up to $145 million in three low-income housing tax credit funds in a bid to provide capital for affordable rental housing in underserved rural markets. The new funds are Cinnaire Fund for Housing LP 33, Ohio Equity Fund for Housing LP XXVII, and MHEG Fund 50 LP.

"Fannie Mae plays an increasingly important role in supporting underserved markets in rural America," said Dana Brown, vice President of LIHTC investments at Fannie Mae. "These funds will allow us to channel much needed capital to support neighborhoods that need it most." These funds are members of NASLEF, a nonprofit promoting efficient management of state and local equity funds.

Fannie Mae received approval from the Federal Housing Finance Agency  to re-enter the LIHTC market as an equity investor in November 2017.

"It is good to have Fannie Mae back as a low-income housing tax credit investor," said Bill Shanahan, president of The National Association of State and Local Equity Funds. "Working with our nonprofit NASLEF members, Fannie Mae is helping bring much needed capital to the rural, underserved markets. It can be a challenge to attract capital to these markets." Also, Shanahan is president of the Northern New England Housing Investment Fund.

Cinnaire Fund for Housing
Fannie Mae committed to invest up to $35 million in the Cinnaire Fund for Housing LP 33 with Cinnaire Corp. The fund has assets under management of $150.8 million and will invest in partnerships that own LIHTC properties located in Illinois, Indiana, Michigan, Minnesota, and Wisconsin. Thirty-seven percent of the Cinnaire Fund portfolio supports affordable housing in rural markets.

Ohio Equity Fund for Housing
Fannie Mae committed to invest up to $50 million in Ohio Equity Fund for Housing LP XXVII with Ohio Capital Corp. Assets under management will be $250 million to $275 million. Ohio Equity Fund will invest in LIHTC housing projects in Ohio, Indiana, Michigan, Kentucky, Pennsylvania, Tennessee, and West Virginia. Fully thirty-four percent of the fund's investments support affordable housing in rural markets.

MHEG Fund
Fannie Mae committed to invest up to $60 million in MHEG Fund 50 LP with Midwest Housing Equity Group. The fund manages a total of $182 million and will invest in partnerships that own 41 LIHTC properties in Nebraska, Iowa, Missouri, Kansas, Colorado, Oklahoma, and Texas. Fully sixty-eight percent of the fund's portfolio supports affordable housing in rural markets.