WASHINGTON--(BUSINESS WIRE)--Nov 18, 2025--
Broad Creek Capital (“BCC”), a private-markets investment firm focused on U.S. real assets, today announced the first close of BCC Multifamily Advantage Fund I (“BCC MAF I”), its dedicated U.S. value-add multifamily vehicle. The fund is anchored by a select group of U.S. municipal institutions and family offices across the United States and Europe.
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The close of BCC MAF I represents a significant step in Broad Creek’s continued growth as a transatlantic private-markets platform. Building on years of partnership with select family offices in the U.S. and Europe, the firm is now opening its proven investment strategy to a broader base of institutional and family office investors. The fund is targeting $150 million in total capital commitments, with a second close planned for early 2026.
“This first close is a strong endorsement of our platform and investment thesis,” said Matthew Ruesch, Co-Founder and Managing Partner of Broad Creek Capital. “We see one of the most compelling entry points for multifamily in over a decade, where disciplined capital and hands-on execution can generate durable, long-term returns.”
In conjunction with the first close, BCC MAF I completed the off-market acquisition of Loft One35, a 298-unit multifamily community in Charlotte, North Carolina, for $94 million. The acquisition aligns with the fund’s focus on high-growth markets and value creation through operational improvements, targeted renovations, and resident-experience upgrades.
“Loft One35 demonstrates the type of opportunity we seek – well-located assets where disciplined underwriting and hands-on execution can drive durable value," said Michael Green, Co-Founder and Managing Partner of Broad Creek Capital.
BCC MAF I will invest in essential-housing communities with a focus on the Southeast and broader Sun Belt, where demographic and economic trends continue to drive rental-housing demand. The fund applies a private-equity approach to real estate, focusing on operational excellence, targeted modernization, and disciplined capital structure management to generate attractive, risk-adjusted returns.
Since 2020, Broad Creek Capital has acquired more than 3,800 multifamily units and now manages over $500 million in assets, with a focus on modernizing well-located, attainable rental communities that serve the U.S. workforce.
About Broad Creek Capital
Broad Creek Capital (“BCC”) is a private markets investment firm focused on U.S. real assets and private equity. The firm invests in multifamily housing, special situations, and opportunistic private markets through a disciplined, value-oriented approach designed to deliver compounded returns and stable cash flows uncorrelated to public markets.
Headquartered in the Washington, D.C. region, BCC combines institutional investment rigor with the long-term alignment of a family office. To learn more, visit: www.broadcreekcap.com
Loft One35, a 298-unit multifamily community in Charlotte, North Carolina
BAGHDAD (AP) — An American journalist who was kidnapped in Baghdad had tried to cross from Syria into Iraq three weeks earlier and was initially turned back, an Iraqi official said Wednesday.
U.S. and Iraqi officials said Shelly Renee Kittleson had also been warned of threats against her in the days before her abduction. A freelance journalist who has worked for years in Iraq and Syria and was described by those who knew her as deeply knowledgeable about the region and the communities she covered, Kittleson was kidnapped from a street in the Iraqi capital Tuesday and remains missing.
Hussein Alawi, an adviser to Prime Minister Mohammed Shia al-Sudani, said Kittleson had sought to enter via the al-Qaim crossing from Syria on March 9 but was turned back because she did not have a press work permit and because security concerns due to “the escalation of the war and aerial projectiles over Iraqi airspace as a result of the war on Iran.”
She later entered the country after obtaining a single-entry visa to Iraq valid for 60 days issued to allow foreign citizens stranded in neighboring countries to “transit through Iraq to reach their home countries via available transport routes,” he said.
Kittleson entered Baghdad a few days before she was kidnapped and was staying in a hotel in the capital, he said.
“The incident is being followed closely by Iraqi security and intelligence agencies under the supervision of” al-Sudani, Alawi said. He noted that one suspect believed to be involved in the kidnapping plot has been arrested and is being interrogated.
Iraqi security forces gave chase to her captors and arrested one suspect after the car he was driving crashed, but other kidnappers were able to escape with the journalist in a second car.
An Iraqi intelligence official who spoke on condition of anonymity because he was not authorized to comment, said Iraqi authorities believe she is being held in Baghdad and are trying to locate her and secure her release. He said authorities “have information about the abducting party” but declined to give more details.
U.S. officials have alleged that Kittleson was taken by Kataib Hezbollah, an Iran-linked Iraqi militia that has been implicated in previous kidnappings of foreigners. The group has not claimed the kidnapping and the Iraqi government has not publicly said anything about the kidnappers' affiliation.
The Iraqi intelligence official said that prior to Kittleson's abduction, Iraqis had contacted U.S. officials to notify them that there was a specific kidnapping threat against her by Iran-affiliated militias.
Dylan Johnson, U.S. assistant secretary of state for public affairs, said on X Tuesday that the “State Department previously fulfilled our duty to warn this individual of threats against them.”
A U.S. official, who also spoke on condition of anonymity because he was not authorized to comment publicly, said, “She was contacted multiple times with warnings of the threats against her," including as late as the night before the kidnapping.
Kittleson’s mother, 72-year-old Barb Kittleson, who spoke to The Associated Press at her home in Mount Horeb, Wisconsin, said she heard about the kidnapping from a news report on Tuesday and was visited by the FBI at her house on Tuesday night.
When asked how she felt about the kidnapping she said, “Terrible. Scared. I’ll pray for her.”
Barb Kittleson said she last exchanged emails with her daughter on Monday. Shelly Kittleson sent photos of herself from Iraq, her mother said.
“Journalism is what she wanted to do so bad,” Barb Kittleson said. “I wanted her to come home and not do it, but she said, ‘I’m helping people.’”
Surveillance footage from Baghdad that was obtained by the AP shows what seems to be the moment the journalist was kidnapped. It shows two men approaching a person standing on a street corner and ushering the person into the back of a car. There appears to be a brief struggle to shut the car door before the men get into the vehicle and it drives away.
Iran-backed militias in Iraq have launched regular attacks on U.S. facilities in the country since the beginning of the U.S.-Israeli war on Iran.
Bauer reported from Mount Horeb, Wisconsin. Associated Press writer Matthew Lee in Washington contributed to this report.
The street corner in central Baghdad's Saadoun Street where U.S. journalist Shelly Kittleson was kidnapped in central Baghdad, Iraq, Wednesday, April 1 2026. (AP Photo/ Hadi Mizban)
U.S. journalist Shelly Kittleson poses for a cellphone photo in a cafe in Baghdad, Iraq, Monday, March 30, 2026. (AP Photo)
U.S. journalist Shelly Kittleson poses for a cellphone photo in a cafe in Baghdad, Iraq, March 25, 2025. (AP Photo)
A street view shows the street corner in central Baghdad's Saadoun Street where U.S. journalist Shelly Kittleson was kidnapped in central Baghdad, Iraq, Wednesday, April 1 2026. (AP Photo/ Hadi Mizban)
A street view shows the street corner in central Baghdad's Saadoun Street where U.S. journalist Shelly Kittleson was kidnapped in central Baghdad, Iraq, Wednesday, April 1 2026. (AP Photo/ Hadi Mizban)
