Broad Creek Capital (“BCC”), a private markets investment firm focused on U.S. real assets, today announced the acquisition of The Crossing at Palm Aire, a 315-unit Class A multifamily community in Sarasota, Florida, following the successful second close of its Multifamily Advantage Fund I (“MAF I”). BCC acquired the property alongside co-sponsor Hillridge Capital, with Abod Capital Solutions investing as a co-limited partner in the joint venture.
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Broad Creek Capital (“BCC”) acquired The Crossing at Palm Aire, a 315-unit Class A multifamily community in Sarasota, Florida, following the successful second close of its Multifamily Advantage Fund I (“MAF I”)
The acquisition brings the fund to nearly 30 percent deployed toward its $150 million target and follows a second close led by European family offices. The fund’s overall investor base spans family offices and institutional investors in the United States and Europe. The milestone reflects continued investor confidence in Broad Creek’s disciplined strategy of acquiring high-quality multifamily communities in high-growth, Sun Belt markets where operational improvements can create long-term value.
“Broad Creek began as a family office, and we have kept that orientation as we have grown,” said Matthew Ruesch, Co-Founder and Managing Partner of Broad Creek Capital. “We invest our own capital in every transaction, and we underwrite each acquisition as owners rather than intermediaries. This close, and the acquisition it funded, reflect the kind of steady, disciplined deployment we committed to our partners.”
Completed in 2023, The Crossing at Palm Aire is a Class A apartment community in one of Florida’s fastest-growing markets. The partnership plans to enhance the property’s performance through operational improvements, targeted capital investments and resident-focused initiatives, with Hillridge Capital leading property-level asset management.
“Florida remains one of the country’s strongest multifamily markets, and Sarasota continues to benefit from population and employment growth,” said Adam Stifel, Head of Real Estate at Broad Creek Capital. “The Crossing at Palm Aire is the type of asset we look for: a high-quality community in a growing market where we can improve operations, enhance the resident experience and create long-term value.”
The Crossing is the second transaction Broad Creek and Hillridge have completed together, following The Carson in Charlotte. “The Crossing at Palm Aire is an exceptional community with tremendous long-term potential,” said Jonathan Cummings, Founder and Managing Partner of Hillridge Capital. “Together with Broad Creek, we’re focused on creating operational efficiencies, enhancing the resident experience and building on an already outstanding asset.”
MAF I targets value-add multifamily investments across the Southeast and broader Sun Belt, concentrating on markets where the supply wave has already broken: markets that have absorbed recent deliveries, continue to grow, and face limited new competition ahead. The Crossing at Palm Aire is the fund’s second investment: a well-located community acquired at an attractive basis, with a defined program of operational and physical improvements. It follows the off-market acquisition of The Carson, a 298-unit community in Charlotte, North Carolina, in October 2025.
Broad Creek anticipates an additional fund close in late 2026 or early 2027 as it continues deploying capital across the Sun Belt. The announcement follows the firm’s recent acquisition of the 194,000-square-foot office property at 1667 K Street NW in Washington, D.C., through its joint venture with Garfield Investments.
To learn more, visit www.broadcreekcap.com.
About Broad Creek Capital
Broad Creek Capital is a private markets investment firm with offices in Washington, D.C. and Zurich. Built from a family office foundation, BCC invests principal capital alongside a select group of aligned institutional and family office partners. The firm invests across three strategies: U.S. real assets, anchored by value-add multifamily; growth equity; and special opportunities. BCC manages more than $700 million in assets.
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