Divergent Capital Partners, a real estate investment fund in Southfield, has closed on the acquisition of eight multi-tenant real estate properties in metro Detroit, valued at approximately $18.8 million.
“This is an incredibly important first step in the development of Divergent Capital’s portfolio of real estate holdings,” says Travis Bronik, executive director of Divergent Capital. “We have invested across carefully chosen multifamily real estate and apartment communities throughout metro Detroit, with an emphasis on workforce housing which has become the centerpiece of the new ‘work at home’ economy.”
Divergent Capital is now working on its next public raise for a $25 million 506(c) fund and expects to control another $100 million of real estate across the Midwest. The company’s focus centers on markets offering exceptional multifamily fundamentals and key macroeconomic demand drivers such as local employment and population growth.
The company states capital preservation is as important as maximizing returns, which is why it invests in properties where the management team can enhance the intrinsic value by maximizing operational efficiencies and better focus on rebranding and renovations.
Divergent Capital is led by co-founders and managing partners Bronik, Nathan Guinane, and Saif Siddiqui. Bronik is an attorney by trade who has more than two decades of real estate investment experience.
Guinane is director of investor relations and strategic partnerships. In his career, he has invested in and developed single and multifamily properties and is adept at extracting value from properties in need of rehabilitation.
Siddiqui serves as the firm’s director of acquisitions, where his primary responsibilities involve the sourcing and underwriting of new deals, contract negotiations, and due diligence. Prior to joining Divergent Capital, he was the co-founder of Roof Estates, where he specialized in identifying value-added multifamily and commercial real estate in metro Detroit.
The company’s acquisition of eight multifamily properties include:
- Holiday Manor East Apartments in Roseville — 60 units
- Lakeshore Pointe Apartments in New Baltimore — 23 units
- Hidden Valley Apartments in Davisburg — 22 units
- Brownell Apartments in Utica — 24 units
- Airport Apartments in Waterford Township — 20 units
- Park East Apartments in Warren — 45 units
- Kelly Pointes Apartments in Eastpointe — 29 units
- Ford Row Housing in Warren — 23 units
For more information, visit divergentfund.com.