New development Whispering Heights made front page news

Fireside Financial made front-page news in the Advantage today discussing our $28 million project, Whispering Heights. This 6-floor complex will feature retail space on the first floor and 152 residential units of the remaining 5 floors which will be available from millennial’s to seniors. Whispering Heights will include amenities such as a residential fitness center, private parking, as well as offer self-contained living for the residents convenience. Click here for Original Source

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North County apartment complex sells for $28.5 million

Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, has acquired Madison at Aspen Woods, a 452-unit apartment complex in Florissant, for $28.5 million. Equus Capital Partners was the seller. Berkadia provided the buyer a fixed-rate, 10-year loan with a 30-year amortization. Berkadia’s Mid Markets team — which includes Senior Directors David Gaines and Alex Blagojevich, Director Michael Sullivan and Associate Director Patrick Sullivan along with Berkadia’s Andrea Kendrick and Ken Aston — helped

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Bailey raises millions for new venture fund

Michael Bailey, an Edwardsville, Illinois-based private equity manager, has raised $25 million for a limited liability company called FREP Debt I, according to documents filed with the Securities and Exchange Commission. The money came from a single, undisclosed investor. The funds, Bailey said, will be used to buy commercial mortgage backed securities (CMBS) tied to multifamily housing development commercial loans. “(CMBS) are somewhat out of favor right now, but we see it getting back into favor

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Fireside gets jump on $500 million investment fund

Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, has launched a third real estate investment fund. And already, $75 million of the planned $500 million fund has been raised, according to documents filed with the Securities and Exchange Commission. Bailey said the rest of the money is likely to be raised over the next 18 months. Similar to the last two Fireside funds, Bailey said he’ll use the money to invest in

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Fireside Financial raises $75 million for real estate fund

Fireside Financial has raised $75 million for its Fireside Real Estate Partners III fund. The fund is seeks to raise $500 million in equity commitments. Fireside focuses on value-added investments in multifamily and self-storage properties, primarily in the Midwest. Fireside Real Estate Partners II, the fund’s predecessor, launched in 2011 and was targeting $100 million in equity commitments.   Click here for Original Article

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Fireside plans to launch $500 million worth of investment funds

Michael Bailey’s Fireside Financial, a private equity firm based in Edwardsville, is on the market to grow its real estate portfolio, looking to buy two to three apartment properties as well as 300,000 square feet of self-storage space this year. In addition to Fireside’s expected acquisitions in 2012, the company also plans to launch two new investment funds totaling a combined $500 million in assets in early 2014, according to Bailey, who founded Fireside in

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Fireside buys Hunter’s Glen for more than $10 million

A private equity firm in Illinois recently inked a deal to buy the Hunter’s Glen Apartments in Chesterfield for more than $10 million, acquiring the multi-family complex from a Boston pension fund adviser. Michael Bailey’s Fireside Financial of Edwardsville closed Sept. 18 on the purchase of Hunter’s Glen from Boston-based Eaton Vance. While terms of the deal were not disclosed, the property was appraised at about $9.6 million, according to the St. Louis County Department

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