Sample Gates Management (SGM), the investment entity for the IU Real Estate Private Equity (REPE) Program, a student-run private equity fund, has executed its first investment. The deal closed earlier this month, investing $400K into Echo Park, a 154-unit, Class-A market rate apartment community in Bloomington, IN.
Echo Park is currently 100% leased and located just 2.7 miles south of the Indiana University campus, catering to graduate students and non-student residents seeking a quiet, high-end apartment living experience. Deal sponsor Gray Capital acquired the property in February, and they plan to hold and operate it with their own in-house management team.
The IU Real Estate Private Equity (REPE) Program is a two-semester capstone course primarily for seniors majoring in real estate that allows students to raise and invest capital in real estate via a student-managed entity called Sample Gates Management, Inc. (SGM). In late 2022, SGM raised $4.2 million from more than 40 accredited investors, making the IU REPE Program the largest undergrad-led program of its type in the United States
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