|Fund Name||Sundance Bay Qualified Opportunity Zone Fund I L.P.|
|Fund Manager or Organizer(s)||Sundance Bay|
Mixed-use Development, Multifamily Residential
Arizona, California, New York, Pennsylvania, Utah
|Additional Fund Details||
Sundance Bay is seeking $50M to $100M in capital commitments.
The Fund is managed by an experienced team of real estate professionals with an ability to
The Fund will primarily target multifamily but may include a diversified portfolio of ground up real estate investments in Opportunity Zones. The Fund will also consider qualifying projects that require significant redevelopment or repositioning.
The Fund will target an average cash on cash to investors of 7%+ and an equity multiple of 2.0x+ during the hold period (given the 10+ year hold, IRR is less relevant but the fund will target a return in the range of 13-15%).
Founded in 2012, Sundance Bay has more than 30 full time team members headquartered in Salt Lake City, UT with satellite offices in San Diego, CA, Indianapolis, IN and St. Louis, MO.
The team has invested more than $500M of equity in real assets and debt instruments with a total market value of more than $800M. The management team has over 130 years and $6B of combined acquisition and development experience. The principals have personally invested over $25M in the various investments.
Many of the partners and managers come from top public and private companies, including Avalon Bay, Equity Residential, Excel Trust (public REIT acquired by Blackstone), McKinsey and Company, Prudential Real Estate Investors, Starwood Capital Group, The Related Companies and Toll Brothers.