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Enclave Launches $200M Investment Fund - Investors Seek Stability and Tax-Efficient Income

via Business Wire

Enclave announced the launch of the Real IncomePlus Fund (RIF), a $200 million open-ended investment fund designed to broaden access to institutional-quality real estate while delivering regular income, tax efficiency, and long-term stability to investors.

RIF represents a strategic expansion of Enclave’s investment platform, reflecting strong investor demand for stable returns, tax deferral opportunities, and streamlined reporting. The fund focuses on stabilized multifamily assets throughout the Midwest and Mountain West, along with industrial assets across the United States. According to Enclave Co-Founder and Chief Executive Officer Ben Meland, this mix of product types and geographic regions is grounded in durable and balanced performance characteristics.

“We are deeply committed to understanding our investors’ objectives and designing structures that support them,” said Meland. “RIF is intentionally built on conservative underwriting, disciplined acquisition, and a desire to deliver the stability and efficiency investors seek. Its structure enables tax deferral, consolidated reporting, and the simplicity many investors have requested.” Meland noted that Enclave’s integrated development, construction, and investment platform positions the firm to adapt its offerings as market conditions evolve.

Recent data underscores the strength of RIF’s core focus areas. According to a September 2025 report from CoStar Analytics, the Midwest leads the nation in year-over-year multifamily rent growth, outpacing coastal and Sun Belt markets and highlighting the region’s resilience. Industrial assets continue to demonstrate equally strong performance, featured by RIF’s disciplined market selection, rigorous tenant evaluation, and strategically structured long-term leases in multi-tenant properties.

As part of this strategic initiative, led by Josh Wilcox, President of Development and Investments, Enclave has expanded its investment team with the addition of Dan Ruehl. Ruehl will oversee investment sourcing, capital deployment, and partnership development as the firm continues to grow and diversify its holdings. Enclave’s sustained execution and operational discipline have positioned it among the largest developers in the Twin Cities and contributed to its recognition as Developer of the Year by industry peers in 2025.

With the launch of RIF, Enclave continues to broaden investor access to high-quality real estate opportunities and reinforce its commitment to delivering stable, long-term value through a disciplined and performance-driven investment approach.

For questions or media inquiries, please contact valerie.doleman@enclavecompanies.com.

About Enclave

As a Fargo-based unified real estate investment firm, Enclave’s investment, development, construction and management teams create distinct spaces where our partners, team members and communities thrive. Specializing in multifamily and build-to-suit industrial developments across the Midwest and Mountain West, Enclave has grown to 250+ team members, completing over 150 projects representing more than $1.75 billion in assets under management since its founding in 2011. A 50 Best Place to Work for seven years in a row and counting, Enclave is an award-winning workplace comprised of empowered team members who share in Enclave's vision and support one another to do their best work. Additional information is available at enclavecompanies.com.

“RIF is intentionally built on conservative underwriting, disciplined acquisition, and a desire to deliver the stability and efficiency investors seek."

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