HREIF Raises $70 Million in 2021 Offering

OKLAHOMA CITY - Oklahoma City-based real estate investment firm Humphreys Capital announced completion of its 2021 equity offering on Monday.

Over the past four months, the firm raised $70 million for the Humphreys Real Estate Income Fund (HREIF), the firm's open-ended flagship real estate fund. This year's equity raise was 20% larger than what was raised in 2020, continuing a trend, the company noted.

"In this season of economic recovery and expansion, we are maintaining sustained growth by focusing on consistent execution, stable income properties, and sourcing value-add and opportunistic real estate opportunities for our investors," said Humphreys Capital President Grant Humphreys said. "I tip my hat to our investor relations team who has worked incredibly hard over the past year to make HREIF a success. We also thank our partners and investors for their continued support."

HREIF said it focuses on diversification across multifamily, industrial, office and retail sectors in high-growth cities across the southeastern and southwestern United States, including Denver, Dallas and Raleigh. The fund has a portfolio of 72 properties across 15 states, valued at more than $675 million. Investors in the fund have experienced a 13.5% net internal rate of return since inception, with dividends declared annually and paid monthly, it said.

Ben Stewart, Managing Director of Investor Relations, said that although the 2021 income fund raise is fully funded, there are more opportunities coming.

"Our team is currently working behind the scenes to put together our next real estate growth fund, and we are excited to share details in the coming months," Stewart said. "And then in January of 2022 we expect to reopen HREIF to new investment as we have done annually over the last several years. Our commitment to applying a principled approach to repeatable, scalable real estate investing remains as strong as ever."

Disclosures: The information provided is for informational purposes only and should not be considered investment advice or a recommendation or solicitation of an offer to invest in any fund or security, including HREIF. Past performance is not indicative of future results. There are a number of risks associated with real estate investing. In addition, there are a number of risks associated with investing in the Fund, and those risks are outlined in the Fund's private placement memorandum which should be read carefully and used as the offering document for any consideration of an investment in the Fund. The Fund's net Internal Rate of Return ("IRR") is an annualized return calculated with the sum and timing of investors' capital contributions and distributions to investors net of management fees, Fund expenses, and manager's return using a terminal value as of the calculation date.