TCS Anika Homes Launches Fund 5 to Develop SFR Housing in Philadelphia

PHILADELPHIA, Dec. 3, 2021 /PRNewswire/ -- TCS Anika Homes, a Philadelphia based real estate firm, has launched TCS Anika Homes Fund 5, a $5.5 million equity raise coupled with a $15 million line of credit with CoreVest, for the purchase and renovation of approximately 120 additional single family workforce housing units in Philadelphia. All homes will be gut renovated and feature new roofs, plumbing, electrical, floors, kitchens, bathrooms, and HVAC and will boast high quality finishes making them 'best in class' assets for the demographic they serve.

The firm is a JV between principals from private equity firm Anika Equities and TCS Management, the largest 'scattered site' property management company in Philadelphia with over 5,300 single family units currently under management. Partners Daniel Edrei, Sharon Edrei, Ben Oller, Rebecca Oller and Gaurav Gambhir will lead the venture.

"This fund will enable us to increase our owned and managed portfolio to approximately 260 workforce housing SFR units in the Greater Philadelphia Area. We are really excited to be growing our firm exponentially and love working for a demographic that is largely underserved," comments Daniel Edrei, Managing Partner of TCS Anika Homes. 

TCS Anika Homes is proud to be a driving factor for the improvement and beautification of communities in the City of Brotherly Love. "With nearly a century of combined real estate experience and a primary investment focus always on preservation of capital and the achievement of high risk-adjusted returns, we continually expect to out-perform our competitors. Our lenders and Investors enjoy timely institutional quality modeling, forecasting, and reporting and unfettered communication at all times."

For more information on TCS Anika Homes, or to talk to an acquisition officer about selling your home, please visit www.tcsanikahomes.com.

To sell your home contact Joe Petrusky, Director of Acquisitions, 484-431-1665 or email [email protected].

SOURCE TCS Anika Homes