Mortar Capital Management LLC, a New York-based real estate asset management firm, has launched its second fund offering, the Mortar Growth Fund II, a Regulation D private placement with a capital raising goal of $25 million.
The fund is a diversified offering focused on value-add acquisitions and ground-up development of multifamily properties.
Mortar claims to have 150 active investors and is currently accepting commitments from accredited investors, including entrepreneurs and individuals looking to diversify their retirement portfolios with self-directed IRA or 401K investments. The company claims that its fund’s targeted annual gross returns are 16-20 percent.
Mortar Capital Management, LLC and its affiliates manage and develop multifamily properties in the New York area.