AltStreet
EDGAR Verified
Primary Source · SEC.gov

HGI Multifamily Equity Fund II, LP

Fund Vehicle2026 vintage506(b), 3(c)
Latest signalNew Form D filerForm D · 2026-10-152 events: 1 new form d filer, 1 large raiseLast filing 2026-10-15

Raised

$129M

Investors

40

Min Invest

$1,000

AltStreet Analysis

·

Generated from EDGAR primary sources

HGI Multifamily Equity Fund II, LP is a Delaware-domiciled pooled investment fund that filed a Form D on 2026-10-15 under Rule 506(b) and Section 3(c) exemptions, reporting $128.6M raised from 40 investors with a stated minimum investment of $1K. The filing lists eight executive officers but does not disclose a first sale date or state of solicitation, and no parent platform or sibling entities have been matched to date.

This filing sits within the alternative_investment category as a real estate-focused pooled fund vehicle, combining a standard 506(b)/3(c) exemption pairing common to private real estate funds seeking both securities and Investment Company Act exclusion. The stated $1K minimum is notably low for a fund of this raise size and structure, though the actual average check size implied by the investor count is far higher, suggesting the filed minimum may not reflect typical investor commitments.

Data Flags

minimumInvestmentStated minimum investment of $1K is inconsistent with the implied average check size (~$3.2M per investor across 40 investors on a $128.6M raise), suggesting the filed minimum does not reflect actual investor commitments.
exemptionCombined 506(b) and 3(c) exemption claim is a standard pattern for private real estate pooled funds seeking both securities exemption and Investment Company Act exclusion.
firstSaleDateFirst sale date not disclosed; not flagged as an issue given the raise exceeds $100M, consistent with standard treatment for large institutional offerings.

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0002152213
Entity NameHGI Multifamily Equity Fund II, LP
ExemptionRule 506(b), Section 3(c), Section 3(c)(7)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(7) of the Investment Company Act: the fund is excluded from investment-company registration because every investor is a qualified purchaser, generally an individual with at least $5 million in investments or an institution with at least $25 million.
Entity TypeLimited Partnership
Jurisdiction of OrganizationDelaware
Year Organized2026
Issuer Address999 Waterside Drive, Suite 2300, Norfolk, VA 23510
Phone(757) 640-0800
Industry / Fund TypePooled Investment Fund · Private Equity Fund
Investment Company ActExcluded under Section 3(c)(7) (qualified purchasers only)
Securities TypePooled Investment Fund
First Sale Date—
Filing DateOctober 15, 2026
Accession Number0002152213-26-000001
Total Offering Amount$499,000,000
Total Amount Sold$128,550,000
Amount Remaining$370,450,000
Total Investors40
Non-Accredited InvestorsNone
Minimum Investment$1,000
Offering DurationOne year or less
Sales Commissions$0
Finders' Fees$0
Proceeds to Related Persons$0
Revenue RangeDecline to Disclose
State (Issuer Address)VA
Amendment CountOriginal filing only
Signed ByChristopher R. Gruszczynski, Chief Legal Officer

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.

DOctober 15, 2026

Fund Family

Every vehicle in this manager's series as it appears on EDGAR, newest generation first. Sold-to-date and investor counts are each vehicle's latest Form D.

Fund family

HGI Multifamily Equity Fund2 vehicles · 1 generation · since 2025 · $299.1M sold across the family

This issuer is in Fund II

VehicleRoleFirst filedStatusSoldInvestors
Fund II · first filed 2026-10-15 · 1 vehicle · $128.6M sold · 40 investors
HGI Multifamily Equity Fund II, LPthis issuer2026-10-15raising$128.6M40
Unnumbered · first filed 2025-03-05 · 1 vehicle · $170.5M sold · 102 investors
HGI Multifamily Equity Fund, LP2025-03-05lapsed$170.5M102

Grouped from Form D issuer names (generation, sleeve, jurisdiction and legal-form tokens removed); a name-only match, so abbreviated or renamed vehicles can be missed. Sold and investor figures are each vehicle's latest Form D; sleeves that report the same figure share one family-wide total and are counted once. Performance lines are what a public pension plan reports for its own interest in that fund, net, on the plan's cash flows and valuation date; they are not the general partner's figures.

In the Terminal

Filing events

2

latest Oct 15, 2026

Critical / warning

0 / 0

2 watch · 0 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

raising

Latest event New filer · Oct 15, 2026

SEC.gov
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Investor

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  • 1 offering timeline: velocity, share raised, first-sale lag, stalled flags

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Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

Jordan Slone

Executive Officer · Norfolk, VA

Thomas Litton, Jr.

Executive Officer · Norfolk, VA

Saul Lubetski

Executive Officer · New York, NY

Jay Zwiebel

Executive Officer · Norfolk, VA

Carla Stoner

Executive Officer · Norfolk, VA

Pinchas Mendlovic

Executive Officer · Norfolk, VA

Jacob Slone

Executive Officer · Norfolk, VA

Christopher Gruszczynski

Executive Officer · New York, NY

Questions About HGI Multifamily Equity Fund II, LP

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is HGI Multifamily Equity Fund II, LP?

HGI Multifamily Equity Fund II, LP is a Delaware limited partnership organized in 2026 that filed a Form D with the SEC on October 15, 2026 as a private equity fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7) for an offering of pooled investment fund interests.

Is HGI Multifamily Equity Fund II, LP legit?

AltStreet does not rate legitimacy; it reports the public record. HGI Multifamily Equity Fund II, LP filed a Form D with the SEC on October 15, 2026 claiming Rule 506(b), Section 3(c), Section 3(c)(7). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $128,550,000 sold to 40 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is HGI Multifamily Equity Fund II, LP registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that HGI Multifamily Equity Fund II, LP claimed Rule 506(b), Section 3(c), Section 3(c)(7) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has HGI Multifamily Equity Fund II, LP raised?

HGI Multifamily Equity Fund II, LP reported $128,550,000 sold from 40 investors of a $499,000,000 total offering as of the Form D filed October 15, 2026.

Who can invest in HGI Multifamily Equity Fund II, LP?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(7), each investor must be a qualified purchaser, generally an individual with at least $5 million in investments. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $1,000.

What is the minimum investment in HGI Multifamily Equity Fund II, LP?

The Form D lists $1,000 as the minimum investment accepted from any outside investor as of October 15, 2026. Issuers can waive their own minimums, and the figure does not include fees.

Who is selling HGI Multifamily Equity Fund II, LP and how are they paid?

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.

Who is behind HGI Multifamily Equity Fund II, LP?

The Form D lists 8 related persons: Jordan Eric Slone, executive officer (Form ADV Schedule A Control Person of Sponsor); Thomas Richard Litton, Jr., executive officer (Form ADV Schedule A Control Person of Sponsor); Saul Lubetski, executive officer (Form ADV Schedule A Control Person of Sponsor); Jay Zwiebel, executive officer (Form ADV Schedule A Control Person of Sponsor); Carla Ramey Stoner, executive officer (Form ADV Schedule A Control Person of Sponsor); Pinchas Mendlovic, executive officer (Form ADV Schedule A Control Person of Sponsor); Jacob Ian Slone, executive officer (Form ADV Schedule A Control Person of Sponsor); Christopher Roger Gruszczynski, executive officer (Form ADV Schedule A Control Person of Sponsor). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is HGI Multifamily Equity Fund II, LP located?

The issuer's address on its SEC filings is 999 Waterside Drive, Suite 2300, Norfolk, VA 23510. Its phone number of record is 757-640-0800. It is organized under the laws of Delaware.

How long is the HGI Multifamily Equity Fund II, LP offering open?

The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.

How large is HGI Multifamily Equity Fund II, LP?

The issuer declined to disclose its revenue range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.