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

22.3%

Gross IRR of All Properties

Birgo Team

Birgo Realty LLC manages the Birgo Heartland Multifamily Fund V, LP. Past performance is not indicative of future results. Investing involves risk and may result in partial or total loss. You should carefully consider your investment objectives, risks, charges, and expenses, and should consult with tax, legal, and or financial adviser before making any investment decision. Neither Birgo nor any of its affiliates assume responsibility for the tax consequences for any investor of any investment. For additional information visit our Investment Disclosure. All information on this website is qualified in its entirety by the Offering Documents that must be reviewed prior to investing, including risk factors.

DISCLAIMER: THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.