Puerto Rico-based family office Grupo Ferré Rangel is spreading its wings in multifamily real estate.
Grupo Ferré Rangel recently formed a wholly-owned subsidiary, Kingbird Properties, to invest in multifamily properties in the U.S. and Latin America. Kingbird is focusing on secondary and tertiary markets in the U.S.—with an initial burst of investment activity in Indianapolis and Columbus, Ohio—and on major metro areas in Latin America.
Kingbird Properties says it’ll tap into Grupo Ferré Rangel’s capital to buy value-add multifamily properties through Kingbird, and will form investment alliances with third-party investors, other family offices and local operating partners. Group Ferré Rangel’s current holdings are in sectors such as multifamily, office, health care and media (including Puerto Rico’s largest daily newspaper).