Sarasota firm launches $75 million fund to invest in the West, Southeast

ERES Capital is launching a $75 million equity fund with $250 million in total capitalization.

The Sarasota firm says the fund — ERES Real Estate Fund LP — will be focused on buying and developing hospitality, multifamily and industrial properties in western and southeastern markets.

The states it’s identified are Montana, Idaho, Colorado, Arizona, Georgia and the Carolinas. And its plans call to split up the asset classes with 40% hospitality, 25% multifamily, 25% industrial and 10% special purpose.

The “diversification approach is designed to mitigate risk, generate consistent distributions, and capture upside from markets where ERES has a long history of operating successfully,” the firm says in a statement.

ERES is the is the investment and development division of the Sarasota real estate firm ERES Companies.

Among the division’s previous projects are the Even Hotel Bozeman Yellowstone International Airport and the Yellowstone Landing Apartments in Belgrade, Montana.

And, according to the statement, it has new developments and acquisitions underway including the Hampton Inn & Suites Belgrade and the Tempo by Hilton Fort Myers.