Targa 1 LLC, private real estate fund has oversubscribed within 14 months of the fund’s initial closing.
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Targa 1 LLC, a private real estate investment fund specializing in providing LP equity for workforce housing developments, announced today that the quickly expanding firm hit a $40 million goal in 14 months and has already deployed capital in three construction projects and one acquisition in Florida and Texas. The firm examines market conditions, the need for the product, the partners, and contractors on the project along with the potential return on investment to help accredited investors and family offices gain a significant return on their investment.
Targa’s investment portfolio has a total of 1,208 units under construction or acquired. The firm’s initial investment began with Affiliated Development for workforce housing residential projects in Palm Beach County including The Bohemian, a mixed-use project of 200 workforce housing units in Lake Worth; The Grand, a 309-unit mixed-use development in West Palm Beach; and the MID, a multi-family development with 230 residential units and 10 retail units in Lake Worth Beach. Outside of Florida, Targa has also invested in Watterscape, a new construction development with 469-units of multi-family housing located in Allen, TX.
Targa initially launched in an effort to help support developers/owners in securing capital, particularly the equity raises for new development opportunities. Accredited investors can capitalize on Targa’s relationship with reliable long-term partners such as Moss Construction and long-term banking relationships to secure investments with high potential returns and low risk, combined with community benefits. Even in a volatile market, Targa believes in the demand for workforce housing and is now eyeing a second fund. Targa 2 LLC is scheduled to launch in Q4 2022 or Q1 2023 and will have a geographical focus on Florida, Texas and Hawaii.
Targa 1 LLC is an entity within Moss Family Office (MFO) Worldwide, a Family Asset Acquisitions Management Company. The principals of Targa 1 LLC, ChadMoss and David Greer, have extensive experience in real estate construction, investment, and finance. Chad Moss is the Chief Executive Officer of Moss Family Office with over 25 years of executive leadership and construction management experience and is responsible for implementing the strategic vision of MFO. David Greer is the Fund Manager and co-founder of Targa.
With over 30 years of experience, David brings an extensive background in investments, capital markets, and real estate development. David Greer stated, “Targa is committed to the communities in which we invest. The quality of construction and the long-term viability of projects is important to us. We look to make our projects accessible to potential residents and strive to enhance the character of each community.”
Chad Moss and David Greer, Principals of Targa 1 LLC
For more information about Targa, please visit www.targarealestatefund.com.