By: Sarah Baker
Memphis Daily News
Boyle Investment Co. has announced the formation of Midsouth Capital Fund I LLC, which is targeting $80 million in real estate investment opportunities throughout the Mid-south region, with a special focus on Memphis and Nashville. Additional markets include Kentucky, north and central Alabama, Mississippi and Arkansas.
Current initial equity capital committed is $32 million, with Boyle and related entities contributing $10 million of the total. In 2011 alone, more than $200 billion of commercial mortgages are expected, which will continue to progress until it peaks in 2014.
“The newly formed Midsouth Capital Fund I takes advantage of the unique real estate investment climate in which capital is scarce and liquidity needs in the marketplace are providing attractive acquisition opportunities,” Boyle president Henry Morgan said in a statement. “The fund enables investors to maintain a more diverse deployment of their capital and to react quickly to these real estate investment opportunities.”
The Midsouth Capital Fund I requires a $1 million minimum equity commitment and is seeking sellers who are looking for greater liquidity. The majority of the initial investors are from the Middle Tennessee and Memphis regions.
In the Memphis area, the fund is concentrating on properties within the Poplar corridor.