Cortland Fund Services has been chosen to provide fund administration services to four new private equity real estate funds managed by real estate management firm BainbridgeZKS.
As third-party fund administrator, Cortland will provide fund accounting, investor servicing and other third-party support for the BainbridgeZKS Parking Income Fund, BainbridgeZKS Industrial Port Value Fund, BainbridgeZKS Lyon Multifamily Growth Fund, and BainbridgeZKS Hospitality Core Plus Fund.
Expected to be launched in the 2013, each fund will specialize in a specific asset class.
According to BainbridgeZKS, the Parking Income Fund will target investments in institutional quality parking operations near primary US airports.The Industrial Port Value Fund will deal with investments in domestic industrial real estate assets primarily in and around the ports of Los Angeles and Long Beach, California. The Bainbridge Lyon Multifamily Growth Fund will develop and acquire existing assets in high density, high job growth markets. The Hospitality Core Plus Fund will invest in a pipeline of proprietary assets with potential to leverage parking expertise.
With over $22 billion under administration, BainbridgeZKS targets the commercial and specialty real estate industry focused on partnering and investing in work-outs, turnarounds, distressed situations, and restructurings.
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