Brazil bank partners with Miami developer to launch PE real estate fund

Brazilian digital bank Inter&Co has joined forces with Miami-headquartered real estate developer Resia to launch a private equity opportunity fund that will invest in affordable housing developments.

The Inter Resia Opportunity Fund I has raised $30m in capital to develop the Resia Golden Glades, an affordable housing project in Northern Miami.

The fund is designed to provide international non-US investors access to a ‘family’ of investment funds focused on private equity multifamily development that were previously available only to ultra-high net worth individuals, the groups said in an announcement. Investments in the fund can start as low as $2,000 in the Brazilian funds.