Argyle Real Estate Partners and Sembler Investments launched a multifamily-focused investment venture that aims to buy over $1.5 billion of apartments in the Southeast and Texas over the next two to three years.
Led by Ryan Reyes out of Florida, Argyle Real Estate targets core-plus and value-add opportunities in major Sunbelt markets. The firm will target apartments built after the year 2000 in markets experiencing major population growth and corporate relocations but still offer a high quality of life for its residents.
“The fundamentals for multifamily remain strong despite the recent macroeconomic and capital market trends,” said Reyes, Argyle founder and CEO in a statement. “We believe this dichotomy between the underlying asset class and capital market conditions will present compelling investment opportunities in the months ahead.”
Sembler Investments was founded 30 years ago in Tampa, Fla. The firm is multidisciplinary has holdings in real estate, healthcare, financial services and hospitality.
“We are very excited about our partnership with Ryan and the Argyle team,” said Mark Sembler of Sembler Investments in a statement. “Ryan’s proven track record demonstrates his capabilities and thoughtfulness in this space, and we look forward to accomplishing much together. In addition to the opportunities we are currently seeing in this market, we think a focus on this space benefits our other efforts at the same time.”