Cortland Fund Services has been appointed fund administrator on four new private equity real estate funds managed by institutional real estate investment management firm BainbridgeZKS.
Cortland is a third-party fund administrator with over $22 billion under administration, with clients including private equity and real estate firms.
Cortland will provide fund accounting, investor servicing and other third-party support and services for the BainbridgeZKS Parking Income Fund, BainbridgeZKS Industrial Port Value Fund, BainbridgeZKS Lyon Multifamily Growth Fund, and BainbridgeZKS Hospitality Core Plus Fund. "Appointing Cortland will allow us to focus on our core strengths and provide the fund an experienced team of professionals and systems to ensure greater accuracy and transparency for our investors," said Nick Chini, Managing Director of Bainbridge ZKS. BainbridgeZKS expects to launch each of the funds in the second quarter of 2013.
Each fund will specialize in a specific asset class and be managed under BainbridgeZKS' operator-led business model. The Parking Income Fund is targeting investments in institutional quality parking operations generally near primary U.S. airports. The Industrial Port Value Fund is targeting investments in domestic industrial real estate assets primarily in and around the ports of Los Angeles and Long Beach, CA. 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.
Cortland has offices in Chicago, Charlotte, Los Angeles, and New York.