Buckingham Partners closed its first multifamily fund, Buckingham Multifamily Fund I. The fund totals $175 million and will target value-add investments in fast-growing secondary markets in the Midwest and Southeast U.S. Buckingham Partners is an affiliate of Buckingham Companies, a full-service real estate company.

So far, Buckingham Multifamily Fund I has closed or is about to close on six investments in Carmel, Indiana; Zionville, Indiana; Cincinnati, Ohio; Louisville, Kentucky; and Nashville, Tennessee.

Besides traditional multifamily properties, Buckingham Multifamily Fund I will also seek to purchase mixed-use properties to put through its value-add program.

“We are delighted our debut fund has attracted the support of best-in-class investors who believe in our investment strategy, and who appreciate the track record and operational excellence of our team. As interest in living and working in vibrant Midwestern and Southeastern markets increases, we are seeing great opportunities in well-located multifamily housing,” Buckingham Companies Founder, President, and CEO Bradley Chambers said in a statement.