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| Marshall Boyd |
LOS ALTOS, CA, March 23,
2016 – Interstate Equities Corporation (IEC), an institutional fund manager
that invests in California apartment communities, has announced the final close
of IEC Institutional Fund III, L.P., a fully discretionary, commingled fund
with $200,000,000 in equity commitments.
According to Marshall Boyd, who co-leads IEC as
President alongside Julia Boyd Corso, IEC
Institutional Fund III is the firm’s largest fund to date, comprised of equity
commitments from new and repeat investors, including family offices,
endowments, foundations and corporate pension plans.
“Our firm specializes in renovating and repositioning
apartment communities in California, with a focus on assets that are often
under 100 apartment units, although our range is 20-400 units,” explains Boyd. “
“IEC continues to strategically acquire assets in the
Bay Area and the best of Southern California.
Both are large, infill markets which we know well. The ability to raise
this capital in about a year attests to the strength of our strategy, our team,
and to the integrity of our business platform.
“We look forward to working with this group of
investors for a long time and are honored to do so.”
For a complete copy of the company’s news release,
please contact:
Katie Kea or Jenn Quader
Brower, Miller & Cole
(949) 955-7940
