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Francisco is the founder and manager partner of Bluegrass Multifamily. He has long ties to the real estate industry, having started his career as a licensed real estate appraiser and working at a real estate development company in his native Venezuela. After obtaining his MBA, he began his career in finance and investment banking in the United States, which spanned over 30 years. Seeking to diversify his own investment portfolio, he first returned to real estate in 2013, investing in single family homes across the Midwest (Indiana, Kansas, and Michigan), as well as in Florida, most of which he successfully flipped/and or sold to his tenants.
He shifted the core of his business to multifamily property investments in 2018. An entrepreneur at heart, Francisco transitioned full-time to a career in real estate investment in 2019, leveraging his combined experiences to prioritize opportunities in the multifamily sector. His first purchase was a fourplex in Merrillville, IN. Shortly after, he founded Bluegrass Multifamily, which focuses on sourcing, investing in, and managing properties in Kentucky, known as the Bluegrass State.
Since then, he has successfully closed on 13 properties, representing a portfolio of approximately 500 units, $60 million, with nearly $20mm raised from investors.
· A 27-unit townhome project in Shepherdsville, KY, financed through Corevest America, syndicated with twelve investors.
· A 34-unit apartment value added complex in Mount Washington, KY, financed through ReadyCapital Finance with two investors, later sold in 2021 at a profit of approximately $1mm
· A 120 unit, two property apartment portfolio in Elizabethtown, KY, financed through a CMBS loan secured by Benefit Street partners with three investors.
· A 84-unit apartment value added complex in Georgetown, KY financed through Benefit Street partners with nine investors. The property is currently considered for a HUD loan and was appraised 40% higher than its purchase price.
· A 28 unit townhome project in Shepherdsville, KY, (the second half of the first project acquired in 2019) financed through ReadyCapital, syndicated with fifteen investors.
· A 31 unit, two property apartment and townhouse portfolio in Elizabethtown, KY financed through a Midwest Life Co and partnering with two additional investors. The property was sold last December netting investors a near 50% profit.
· A 150 unit, duplex portfolio consisting of two near-new build for rent communities in Bowling Green, KY. Financed by Fannie Mae through Berkadia, the syndication included some large institutions from South America and 15 additional local investors.
· A 68 unit, value added, tw0 property portfolio in Louisville, KY financed through Lima Capital using a fixed bridge loan and syndicated with 18 investors
· A 36 unit, stable apartment complex in Louisville, KY. Financed through a local credit union, it was syndicated to 11 investors.
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