Pine Capital Announces the Close of USD 300 Million in Its Third Real Estate Fund

Pine Capital Investment Advisors (PCIA) announced the closing of its third real estate fund, PCIA RE III. Over the last few years, private equity investment in income-yielding commercial, industrial, residential and data-center assets has increased significantly. This increase has been driven primarily by changing institutional-investor allocations across the world. LSM Management acted as the strategic consulting firm, advising on various functions in connection with the second close.

Mr. Tim Sethers, Managing Partner of Pine Capital, commented on the milestone: “We are pleased to announce the completion of the final close of more than USD 300 million for our third real estate fund. Our investment strategy targets high-growth residential markets including Miami, Austin, Atlanta, Washington D.C., Orlando, Los Angeles, Charlotte and Phoenix. The fund’s investor base comprises 45 percent domestic and 55 percent overseas allocators, with significant participation from GCC family offices. We are targeting a net IRR of 15 to 20 percent.”

“We have finalized a few investments and are prepared for accelerated deployment, given a very healthy pipeline and a structurally resilient residential segment,” he added.

Mr. Ali Maradi Hussiani, Head of Capital Markets at Pine Capital, provided context on investor trends: “In Q1 2022, we observed a strong rebound from the COVID-era dislocation. Residential sales values grew by more than 70 percent year-over-year during FY2021-22, while average prices increased by more than 10 percent across our target markets. This momentum has validated our thesis and strengthened LP confidence.”

LSM Management, which served as the strategic consulting firm for the fund, noted the broader market dynamics supporting end-user demand and employment generation. The U.S. multifamily sector saw a 56 percent year-over-year increase to $63 billion in transaction volume during Q1 2022, representing 37 percent of total commercial real estate volume. The sector also recorded a historic absorption of 695,100 units, underscoring the structural strength of the residential segment.

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About Pine Capital

Pine Capital Investment Advisors (PCIA) is a real estate investment firm focused on high-growth residential markets across the United States. The firm pursues value-add and opportunistic strategies targeting multifamily, build-to-rent and mixed-use residential assets. With a disciplined approach to sourcing, underwriting and asset management, Pine Capital has established a strong track record across three fund vintages.

About LSM Management

LSM Management is a capital advisory and strategic consulting firm that works with global fund managers, institutional investors and family offices. The firm provides fundraising advisory, investor relations and strategic consulting services across private equity, real estate and venture capital mandates.