TOBIN served as Managing Broker-Dealer for the private placement of interests in Grubb Southeast Real Estate Fund VI, LLC, a multi-year discretionary private equity real estate fund sponsored by Grubb Properties. The fund was structured to invest in moderate-priced multifamily housing and value-oriented office assets across select high-growth markets in the Southeastern United States, with a particular focus on properties eligible for redevelopment and densification.
Launched in 2017, Fund VI pursued a strategy centered on Grubb’s vertically integrated development platform, including its Link Apartments® brand. The fund targeted assets with underutilized land, surface parking or zoning optionality that could support residential development through phased construction, shared parking solutions and adaptive reuse. This strategy positioned the fund to capitalize on demographic trends, urban infill opportunities and workforce housing demand.
During the life of the fund, Grubb introduced a Qualified Opportunity Zone investment strategy through the formation of an affiliated Opportunity Zone vehicle. Certain assets located within designated Opportunity Zones were allocated between Fund VI and the affiliated qualified opportunity fund pursuant to disclosed allocation policies. This structure enabled Opportunity Zone–eligible investments to benefit from OZ tax treatment while preserving economic participation and fee alignment for Fund VI investors.
Fund VI also entered into programmatic joint venture arrangements with institutional real estate capital providers, allowing the fund to scale development activity while managing balance sheet exposure. These institutional joint ventures were structured to support multifamily development projects, often through promote structures and long-duration capital partnerships, further increasing the complexity of fund governance and disclosure.
As Managing Broker Dealer, TOBIN oversaw broker-dealer operations across the original private placement memorandum and multiple supplements addressing amendments to fund terms, offering extensions, Opportunity Zone participation and affiliated investment vehicles. TOBIN supervised Broker-Dealer execution to ensure consistent disclosure of OZ-related risks, affiliated transactions, institutional co-investment arrangements and investor rights across related entities.
TOBIN’s role extended throughout the multi-year offering and investment period, providing ongoing Broker-Dealer supervision of selling compensation, subscription processes and investor communications as the fund structure evolved to accommodate Opportunity Zone investments, institutional joint ventures and extended fund duration.
This engagement reflects TOBIN’s experience serving as a Broker-Dealer for established real estate sponsors operating complex discretionary funds that incorporate Qualified Opportunity Zone strategies, institutional joint venture capital and evolving fund structures requiring sustained Managing Broker-Dealer oversight.
