Highline Real Estate Capital Initiates $350 Million Fundraising for Value-Add Commercial Real Estate Acquisitions

The Miami-based investment firm reached 70% of its initial equity fundraising goal.

Highline Real Estate Capital, a real estate investment and advisory firm based in Miami led by distressed real estate experts David Moret, Matt Papunen, and David Milgram, is preparing to take advantage of upcoming acquisition opportunities throughout the Southeastern U.S. The firm has recently launched a value-add real estate fund with a projected total purchasing power of $350 million. 

The initial closing for the newly launched Highline Real Estate Fund 1, LP, has been completed, with the fund expected to include up to $75 million in discretional capital commitments, $100 million in joint venture commitments, and $175 million of debt financing. Highline Real Estate Capital will use the fund to search for opportunities to acquire distressed and value-add properties in the office, retail, multifamily, and industrial sectors. The acquisitions will be made through direct investments, joint ventures, and rescue capital provided to existing property owners.

“We have seen dramatic changes in the capital markets since the Federal Reserve commenced its rate-hike cycle, which is creating significant dislocation in the real estate market,” Moret says. “The Southeast region is in a unique environment where operating fundamentals remain reasonably strong, but the restricted debt landscape, asset value declines and wave of loan maturities are poised to cause distress.” 

Highline Real Estate Capital has been successfully investing in commercial real estate since its establishment in 2016 and has achieved an average equity multiple of 2.67x for its investors. The firm’s current portfolio comprises office, retail, and multifamily assets across the Southeast region.

“We are in the early stages of what we expect to be an extraordinary opportunity to acquire high-quality, performing assets at extremely attractive prices,” Papunen says. “Seizing this opportunity requires fresh capital and the expertise to allocate it strategically. Our fund is in a prime position to move quickly on such acquisitions.”  

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Drew Limsky

Drew Limsky



Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.