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Another apartment owner has decided to jump into the pref equity game. Forum Investment Group, owner of 3,805 units across nine states, closed on a $226 million investment vehicle specializing in multifamily private credit last month.

The strategy, directed at both institutional and advised investors, was launched as a five-year investment vehicle with a target of $100 million to make loans to property owners and developers, Forum Chief Investment Officer Jay Miller told Multifamily Dive.