In our latest Fund Manager series Kane Baranow hosted Colin Apple Senior Managing Director & Co-Chief Investment Officer, Bridge Multifamily to discuss the Bridge Multifamily Fund.
The webinar was held on Tuesday the 15th of November.
Colin Apple
SENIOR MANAGING DIRECTOR & CO-CHIEF INVESTMENT OFFICER,
BRIDGE MULTIFAMILY
Colin Apple serves as Senior Managing Director & Co-Chief Investment Officer for Bridge Multifamily. Prior to Bridge, Colin worked as a Vice President in the Real Estate Investment Group at Starr Insurance Holdings in NYC underwriting both direct and fund real estate investment opportunities in the United States, Europe, South America, and Asia. While at Starr, he invested in over $1 billion of direct real estate investments around the globe and multiple real estate fund strategies including multifamily housing, emerging market development, and distressed debt. Prior to Starr, Colin worked as an Analyst and Underwriter for the Commercial Mortgage Backed Securities Group at Wells Fargo Bank. Colin received a bachelor’s degree in Economics from Middlebury College. He is a CFA charter holder and a member of the CFA Institute, the New York Society of Security Analysts, and is the Treasurer of the CFA Society of Salt Lake.
About US Multifamily:
US Multifamily is the largest commercial real estate (CRE) sector in the US representing ~ 40% of the total CRE market.
Whilst an emerging asset class in Australia (Build to Rent or BTR), Multifamily in the US has grown over the last 50+ years to be a 5.2 Trillion sector with some ~ 45 million apartments nationally accommodating 32% of the US*
* US Census 2019
About Bridge Multifamily Fund V:
Bridge Investment Group is a USD 40b real estate investment manager listed on the NYSE and has invested in US Multifamily since 1989. Bridge owns and operates their own apartment communities and currently own and manage ~55,000 apartments across some 170 communities with the prime focus on the “B” class sector whereby average rents are ~1300 per month and represent ~23% of household income.
Fund V targets a net 12-14% IRR and a net 1.7x Multiple of Invested Capital based on a “buy,fix,sell” business plan that is typically executed over 3-5 years.
Investors will receive rental yields averaging 4-7% per annum over the period of the investment.
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