Asia Capital Real Estate secures $320m from Neuberger Berman’s arm Almanac

Singapore. Photo by Andrew Kow on Unsplash

Private real estate investor Asia Capital Real Estate (ACRE) announced that it has secured $320 million in capital commitments from a fund managed by Almanac Realty Investors, the real estate investment arm of asset management firm Neuberger Berman.

The funding will be for the various funds managed by ACRE and will serve as anchor investments in the PE firm’s upcoming series of real estate private equity and debt funds that will focus on multifamily investments.

ACRE, founded in 2011, manages a global portfolio with offices in Atlanta and New York in the US, and Singapore. It aims to invest over $2 billion through its upcoming PE funds and has already deployed over $300 million in loans.

The PE firm said Almanac’s $320-million commitment comes amid a volatile year in the commercial real estate industry, as investors wrestle with market disruption brought on by the COVID-19 pandemic.

ACRE added that it will avoid exposure to areas of the real estate market that have been adversely affected by the pandemic, such as retail and hospitality.

“Middle-market multifamily assets offer a more stable long-term outlook than many other areas of the market, and sponsors are growing increasingly aware of the asset class’s merits and differentiating factors,” said ACRE Founding Partner Michael Van Der Poel.

Since its inception, ACRE has acquired, operated, developed, and made loans on over 22,000 apartments across 75 properties and 31 cities. Its strategies focus on direct real estate equity and credit investments and are concentrated in the US, with additional properties currently in development in Southeast Asia and the UK.

The investor, Almanac Realy Investors, partners with established owner-operators in all sectors of the real estate market to raise capital to fuel company growth and has committed more than $6.1 billion in capital to 46 real estate companies, both public and private.

Neuberger Berman acquired the firm in January 2020 to deepen its offering of real estate solutions.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.