Klingbeil Capital Management, Ltd. (KCM) traces its roots back to 1959 when James D. Klingbeil, while a student at The Ohio State University, built his first 19-unit garden apartment project. Over the course of the next four decades, Mr. Klingbeil and numerous single-purpose partnerships and corporations formed what became known as the Klingbeil Organization.

The Klingbeil Organization flourished thanks to innovative approaches catering to the needs and wants of the rental market. The Klingbeil Organization initiated early on a unique specialization in garden apartments and was one of the original developers to introduce the “community” concept in apartment living. Klingbeil properties were among the first to offer pools, clubhouses and other amenities as standard fare within their communities.

Such innovation brought success. Across 35 metropolitan markets, the Klingbeil Organization built, acquired, rehabilitated, repositioned, managed and/or sold an aggregate of 115 apartment communities containing over 26,000 units.

In 1993, The Klingbeil Organization sharpened its focus to include asset management and institutional investments. As a result, the organization consolidated a number of holdings and formed American Apartment Communities (AAC) as a real estate operating company in 1994. Two separate funds (AAC II and AAC III) were formed by Klingbeil senior management with investment entities created by Lazard Freres. After five years, the first fund, AAC II, with a value of over $800 million, was merged into United Dominion Realty Trust, a public REIT. This fund produced a 26 percent internal rate of return (IRR) for its investors. A second fund, AAC III, was created in 1998.

In 2001, Klingbeil Capital Management (KCM) was formed to sponsor investments with pension funds and other entities and to provide asset management, property management and other real estate management and investment services. In 2003, the AAC III fund was recapitalized as Klingbeil Multifamily Fund V (KMF V), through investments provided by Klingbeil senior management and General Motors Investment Management Corp. For further details on this fund, click on AAC III/KMF V Fund.

In October 2001, Klingbeil Multifamily Fund IV (KMF IV) was formed to continue the institutional investment program with General Motors Investment Management Corp. Fully funded, as of December 2005, KMF IV consisted of 14 properties with 3,112 units.

In the latter part of 2005, Klingbeil Multifamily Fund VI (KMF VI) was formed and made its first acquisition, The Apartments Denver Place, the top 18 floors above the new Ritz-Carlton in downtown Denver , Colorado . When fully funded, Fund VI is expected to aggregate assets of approximately $260 million.

As the organization has grown, Klingbeil senior management has continued its commitment to high quality apartment communities and resident lifestyles. For over 45 years, this commitment has resulted in quality of life for residents and strong returns for investors.