BENA Capital Announces Multifamily Acquisition in Merced


February 9, 2016 – Today, BENA Capital, LLC announced the successful acquisition of a multifamily residential property in Merced, CA.

BENA Capital identified the Merced asset as an attractive acquisition opportunity due to the property’s strong value-add potential and the region’s notable growth trends.  Within 15 minutes of the UC Merced campus, the property is located less than a mile from the upcoming $46MM UC Merced Downtown Center (UMDC), a 67,400 sq. ft. development slated to open Fall 2017. The UMDC will serve 370 employees and connect the university with the downtown community, providing a hub for the quickly expanding University of California campus, whose aggressive 2020 plan includes accommodating 10,000 students within four years, generating $1.5 billion in economic activity in Merced County, and creating 8,400 new jobs.

BENA Capital plans to implement a phased renovation strategy and increase the occupancy rate of the property to deliver competitive returns to investors while re-positioning the asset for sale within a short turnaround period and with significant projected profits.

BENA Capital specializes in 100% equity based real estate investments with a primary focus on Value-Add and Core-Plus properties. BENA Capital has owned, developed, and managed multi-family residential, single-family residential, and condominium properties throughout California. BENA Capital has a history of identifying real estate investment opportunities through its established network of strategic relationships. The BENA Capital Investment Team focuses on properties it believes to be under market value, that do not qualify for mortgage loans, and where value and returns can be created through targeted operations management to achieve full productivity of the asset.

Yousif Abudra, Managing Director of BENA Capital said: “BENA Capital occupies a unique niche in an industry which has traditionally relied on debt and leverage to drive returns.  By contrast, we create value for investors by using all-cash purchases to control under-utilized assets and improve their condition and performance.”

“The Merced asset is a perfect example of how we bring significant value to the table.  We used our 100% cash position to acquire a quality asset which could not qualify for financing at a below market price.  Once leased, the property will have significant built-in equity appreciation and cash flow,” Abudra concluded.

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