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Fund facts

Investor Type
Wholesale Investors Only
Asset Class
US Multifamily Real Estate
APIR
AUD: SPI0678AU
USD: SPI1478AU
Target Return (Underlying Fund)
12-14% IRR, 1.8x Net Equity Multiple
Distribution Frequency
Annually, commencing June 30, 2022
Applications
Daily during the Offer Period, which is anticipated to run until the end of Q1 2022 (subject to capacity).
Spire Management Fees
0.50% p.a. x NAV (paid monthly) plus GST, payable to Spire Capital Pty Limited at the Master Fund level.
Investment Partner

Spire Capital Pty Ltd (“Spire”) continues to have high conviction in US Multifamily real estate as a resilient source of absolute returns, with low correlation to traditional asset classes. Spire Bridge Multifamily Fund V (‘SBMFV’) provides an opportunity to capitalise on the continuing thematic of increasing demand in Class B US multifamily housing, driven by an existing undersupply of housing, an ageing population, embedded student debt and the economic flexibility that renting provides. By partnering with Bridge Investment Group (“Bridge”), Spire seeks to leverage upon the strong historical performance and streamlined ‘value add’ strategy in order to provide attractive returns with a low risk profile.

As the USA progresses through the COVID-19 crisis, Class B multifamily apartments have experienced higher and more stable occupancy rates than their Class A counterparts, driven by the affordability factor. Given this, and resultant of the success of Bridge’s predecessor multifamily funds, Spire returns to partner with Bridge to leverage from their deep industry experience and expertise, value-add strategy and in house synergies to best capture the emerging and enduring trends in the US multifamily space.

The Spire Bridge Multifamily Fund V (“the Fund”) serves as an Australian unlisted unit trust that feeds into the Bridge
Multifamily Fund V (“the Underlying Fund” or “Fund V”). The Investment Manager for the Underlying Fund is Bridge
Multifamily V GP LLC, an affiliate of Bridge Investment Group LLC. The Key Target Metrics are as follows:

  • 12-14% Net IRR
  • 1.8x Net Equity Multiple
  • Term of 10 Years from the Initial Closing

 

Ordinary Units

PDS/IM & Forms

Research

Fact Sheet
PDF
Spire Capital Master Fund Financial Report
PDF