Atlanta-based Tioga Capital closed its third real estate fund with capital commitments from family offices, foundations and RIAs totaling $80 million.
The fund was oversubscribed and will invest across the real estate capital structure targeting the Sun Belt region, while pursuing the same investment strategy of the predecessor fund that closed in 2021 with $60 million.
Tioga’s Managing Partner Paxton Griffin said, “We are grateful for the strong support of our returning and new investors who have shown confidence in our investment approach and performance.”
“The current environment has created disruption in the financial markets and a challenging time for real estate sponsors seeking capital,” said John Bradner, director at Toiga, which has $200 million in assets under management. “Fortunately, Tioga has capital available to invest across the capital stack and the experience to efficiently operate in a dislocated market.”
So far the new fund has invested in multi-family, single-family and commercial assets located in Atlanta; Austin, Texas; Houston; Jacksonville, Fla.; and Pensacola, Fla. Tioga’s target investment size range is between $5 million and $30 million.