Sample Gates Management (SGM), the investment entity for the IU Real Estate Private Equity (REPE) Program, a student-run private equity fund, has now deployed $2.2 million across six total projects, amounting to about 52.4% of Sample Gates Real Estate Fund I capital.
The first of the four deals is ALTO Apartments, which closed in late September 2023. ALTO Apartments is a Class A development in Lenexa, KS and will consist of 274 garden-style apartments. Sample Gates Management invested $
500k into the project, and it marked the first development deal in the Fund’s portfolio.
Shortly before the holiday break, SGM made its second deployment of the school year with an investment of $350k into Storie Co’s value-add assets within True North’s Phase II portfolio. The investment offers the Fund exposure to two spectacular resorts in a fast-growing tourist market. The Four Seasons Island Resort in Pembine, WI and the Pine Mountain Resort in Iron Mountain, MI will both benefit from a room count expansion and improved amenities.
Earlier this Spring, SGM invested in another multifamily development deal with a $350k deployment into Tempo at Truepoint. The 359-unit, Class A apartment complex is located just outside of Columbus, Ohio and is part of a much larger Planned Unit Development, containing retail, hospitality, office, and medical office.
Closing out the year strong, Sample Gates Management made an investment of $350k with Matheson Capital for the acquisition of Residences at St. George. The property is a 248-unit, class-B market rate apartment community located in Savannah, GA. This investment marks the second partnership with Matheson Capital and follows a similar business to the previous investment with them, Summer’s Run.
Another exciting milestone for SGM this past year was the completion of the first capital call, as $1.1 million was called from investors in January 2024. The investments completed prior were contributed and financed by our subscription line of credit with Horizon Bank.
Looking ahead to the upcoming school year, SGM is striving to bolster its outreach efforts in hopes of gaining access to an expanded variety of opportunities. Additionally, SGM has begun plans for a second fund in which capital raising will begin as early as the upcoming spring 2025 semester.
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