Vida, the Atlanta-based multifamily and build-to-rent (BTR) real estate development firm, has completed its seed funding round on Vida Opportunities Fund I, LLC, a $47 million fund. The fund is now open to qualified investors, registered investment advisors and broker-dealers, and has a subsidiary that accepts Roth IRA conversions. It will fund construction of two multifamily projects and one BTR project, located in Atlanta’s Upper Westside and in fast-growing Buford, Georgia, north of Atlanta.

“Our vision is to build up our communities, fulfilling lives” said Joe Martinez, President of Vida. “Our mission is to be a leading developer in the sunbelt, exceed our investor expectations, create purposeful, joyful places, and serve our community. We consider the resident experience in every decision, resulting in highly valued communities with a sense of place.”

Vida has looked at the supply and demand of apartments over the past several years. “Peak supply of apartments in Atlanta hit in the third quarter of last year, and there is a lack of new deliveries in the next three years to handle the absorption we’ve historically had. We think this presents a tremendous investment opportunity,” said Martinez.