CHICAGO--(BUSINESS WIRE)--RUME USA, a vertically integrated real estate investment firm targeting multifamily assets in strategic markets within the United States, announced today the launch of its RUME Capital Income and Growth Fund I. The Fund will leverage RUME’s CORR (Community Occupied Rapid Renovation) strategy, which the firm believes to be one of the most innovative, exciting, and successful value-add strategies in the sector.
“Our success is based on RUME’s fully integrated platform which allows us to manage all aspects of our real estate portfolio as we don’t outsource any critical component of the process,” said D. Nathan Reichard, a Principal at RUME and a longtime real estate entrepreneur. “By owning and managing all of our projects, a foundation is built that is integral to our ongoing commitment to process, innovation by technology and organizational culture. Currently, we see great opportunities in the multifamily sector, even amidst Covid-19. Our goal in launching this Fund is to allow our investors to capitalize on the multifamily asset class with what we believe will be extremely attractive yields.”
The Fund is targeting $50 million to $75 million for projects beginning in 2020 through 2023. RUME anticipates investing the proceeds in multifamily housing developments located in strategic Metropolitan Statistical Areas (MSAs) that have long been among the most resilient asset classes in real estate, according to the firm’s ongoing strategic real estate fundamental analyses which continually track the path of progress and opportunity across the United States.
These projects may include opportunities within Texas, Florida, Georgia, Wisconsin, Illinois, Indiana, Ohio, Kentucky, and Arizona – in RUME’s view, all desirable, robust, and growing multifamily markets.
“The need is clear, and we believe our process can provide consistent value for our investors,” said Carl Schirtzinger, a Principal at RUME. “We are excited to apply our CORR process and expertise to the Fund’s investments.”
The CORR strategy utilizes a process that enables RUME to renovate up to four units in a single day, concurrent with improvements to the exterior and amenity areas. RUME believes this commitment to process, technology and organizational culture is key to its tremendous success to date – since its founding, RUME has acquired 23 projects totaling more than 4,500 units.
“Having successfully implemented our CORR process and innovative operating system to manage projects, we feel we have developed a sector-specific business intelligence and process that is second to none,” Reichard said.
One differentiator RUME finds unique is the personal touch the firm brings to all of its projects. Added Schirtzinger, “For our tenants, we set the expectation to under-promise and over-deliver. On several occasions, our residents have expressed overwhelming appreciation for the improvements and are pleased by the speed and convenience for which it is executed.”
For more information, please visit: www.rumeusa.com.
Headquartered in Chicago, RUME USA is a vertically integrated real estate investment firm targeting multifamily assets in strategic markets throughout the United States. Its founding principals have a wide breadth of diverse real estate experience over their respective entrepreneurial journeys and since 2010 have created a set of value creation strategies that they believe to be reliable, profitable, and, most importantly, scalable while mitigating risk. Since 2010, RUME has owned, managed, and re-positioned nearly 4,500 units across the country utilizing one of the most innovative in-house strategies (Community Occupied Rapid Renovation, or CORR) to enhance the value to its multifamily assets. RUME’s advanced technology platform and business operating system enables it to renovate an apartment community at four units per day without occupancy interruption. www.rumeusa.com
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