ZMR Capital, a multifamily real estate investment firm, has secured equity from an institutional joint venture and a five-year, fixed-rate agency loan from Fannie Mae to recapitalize a $230 million, 1,600-unit multifamily portfolio spanning three states.
“In a challenging capital environment, securing this high-value recapitalization is testament to our company’s strong track record, high-quality assets and operational ability,” said ZMR Capital Founder and CEO Zamir Kazi. “We are very excited to have reset our basis at an attractive price, as well as giving ourselves additional runway as the market rebounds.”
ZMR will add value to the portfolio’s properties through gradual, tailored renovations and improved operational performance.
Henry Stimler and Ricky Warner of Newmark represented ZMR Capital in this transaction..
This marks ZMR’s tenth transaction in the last 12 months, amounting to $600 million in recapitalizations and $100 million in refinancing.
Led by Founder and CEO Zamir Kazi, ZMR Capital is an opportunistic real estate investment firm focused on the acquisition and redevelopment of value-add multifamily assets in primary, secondary and emerging markets across the United States. Its team brings over 60 years of combined experience in commercial real estate acquisition, disposition, investment analysis, asset management, development and construction. Since its founding in 2013, ZMR has acquired over $2 billion worth of multifamily properties, representing over 10,000 units. ZMR maintains offices in Tampa and Los Angeles.
