When Private Funds Go Institutional
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Kyle Kazan is the president and founder of Beach Front Properties.
LOS ANGELES—Beach Front Properties, a multifamilyinvestor known for its $10 million mircofunds that invest in workforce housing in tertiary markets, will begin targeting institutional investors in its next fundraising round. According to Kyle Kazan, the company’s president and founder, the company has come to a point where it needs to go institutional to continue to grow. Kazan has a steady track record with an average return of 19% to his investors.
“I have been in business for 16 years, and have always stayed with high net worth individuals in the past,” Kazan tells GlobeSt.com. “Now, I am going to target institutional capital as my next step, and I’ll change the fee structure to attract institutions.” Kazan didn’t give specifics on how he would change the deal structure, but he did say the next funds would be $25 million to $100 million vehicles and would continue to target workforce housing in underprivileged and low-income neighborhoods…
