Heartland Multifamily Fund


Institutional multifamily portfolio across America’s Heartland, blending stabilized cash flow with targeted value-add
Target Net IRR
13-16%
Cash Flow Frequency
Quarterly
Preferred Return
8%

Fund Overview

The Birgo Heartland Multifamily Fund targets assets in resilient Heartland markets, capitalizing on robust supply/demand dynamics while providing superior downside protection.

This fund aims to acquire 100 to 350-unit multifamily properties, consisting of a blend of stabilized and value-add deals for steady cash flow and upside potential.

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The Opportunity

Our focus on the Heartland benefits from durable, needs-based demand and constrained new supply. With dislocated capital markets creating attractive entry pricing, this vehicle will assemble a diversified, cash-flowing portfolio of 100 to 350-unit communities.

1
Acquire at an attractive basis in resilient, workforce-oriented submarkets to enhance downside protection and long-term returns.
2
Use integrated operations and targeted renovations to lift occupancy, revenue, and NOI —raising asset value.
3
Blend stabilized cash flow with value-add upside to deliver consistent income, targeting a 5–7% cash yield.

Investment Characteristics

Outsized Value Creation
Durable Cash Flow

Necessity-based housing in resilient Heartland metros, diversified across markets and 100–350-unit communities, with vertically integrated ops that drive steady occupancy and NOI.

Downside Protection
Downside Protection

Disciplined underwriting with 50–70% leverage, Investment Committee oversight, and hands-on asset management to mitigate volatility and preserve capital.

Rapid Returns
Quarterly Distributions

Target 5–7% cash yield with an 8% preferred return; distributions expected to begin ~12 months after launch and paid quarterly thereafter.

Projected Returns

A $250K investment is expected to grow to $500K after five years and $939K after eight years.

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Projected Returns Line Chart

Birgo Capital
Track Record

$345MM

Assets Under Management

3,600

Units Under Management

27.5%

Gross IRR of All Properties

Birgo Team