Viking Capital Closes on 24th Acquisition
SOUTH BEND, Ind., September 23, 2023 (Newswire.com) - Viking Capital, a leading private equity firm specializing in multifamily properties, is pleased to announce the successful closing of its 24th multifamily property acquisition. The newly acquired property, Park 33, is an impressive 188-unit multifamily complex located in the vibrant city of South Bend, Indiana.
Park 33 represents a significant addition to Viking Capital's diverse portfolio of multifamily properties. This acquisition aligns with the company's strategic vision and commitment to delivering superior investment opportunities to its investors.
About Park 33:
Park 33 is a Core Plus offering with substantial value-add potential. The property consists of 188 spacious and well-maintained units, providing residents with comfortable and convenient living spaces. Located in South Bend, Indiana, Park 33 benefits from its proximity to major employment centers, educational institutions, and recreational amenities.
One of the standout features of this property is its value-add potential. Viking Capital plans to invest in renovations and upgrades to enhance the overall living experience for residents. With value-add opportunities available in 100% of the units, Park 33 promises to offer even greater value to the community and investors alike.
Strategic Investment Approach:
Viking Capital's successful track record is built on a strategic investment approach that emphasizes identifying properties with strong potential for growth and value creation. The acquisition of Park 33 exemplifies this approach, as the company recognizes the unique opportunities presented by this South Bend property.
Financial Details:
Viking Capital is proud to announce that the acquisition of Park 33 was successfully completed with a total investment of $18.3 million. The financing for this transaction comes with a low interest rate of 3.06%, further enhancing the attractiveness of this investment.
Strong Investor Participation:
This milestone acquisition of Park 33 garnered significant interest from the investment community, with over 140 investors participating in this lucrative opportunity. Viking Capital is grateful for the trust and confidence that its investors have placed in the company's expertise and vision for the multifamily real estate market.
About Viking Capital:
Viking Capital is a leading private equity firm specializing in multifamily properties. With a proven track record and a commitment to excellence, Viking Capital continues to grow its portfolio while delivering strong returns to its investors.
For more information about Viking Capital and its investment opportunities, please visit www.vikingcapllc.com.
Media Contact:
Ashley Penrod
Source: Viking Capital
