St. Louis Park, Minnesota-based Enclave launched a $200 million investment fund designed to expand access to alternative real estate investments while offering significant tax advantages and risk-mitigated opportunities for investors.
Enclave’s Real Income Plus Fund is a core, open-ended fund that focuses on stabilized multifamily assets in the Midwest and Mountain West, as well as Industrial assets nationwide. According to Josh Wilcox- President of Development and Investments in Enclave’s Minneapolis office, the combination of market sectors and geographic regions represents the strongest historical performance and continued growth metrics across product types.
According to analysis of national multifamily demand and rent growth, CoStar Analytics stated in a September 2025 report that multifamily rents in the Midwest boast the highest year over year rent gains in the country and remains a model of stability. While the viability of industrial assets’ long-term performance is largely due to Enclave’s highly-selective tenant mix and advantageous lease terms in multi-tenant industrial properties.
As part of this strategic initiative, Enclave has added Dan Ruehl to its team of real estate veterans to oversee acquisition strategy and portfolio growth. Ruehl will guide investment selection, capital deployment, and partnership development as Enclave continues to diversify its holdings across key real estate sectors. Enclave’s expansion and historical track record recently earned a position as the 4th largest developer in the Twin Cities and the Developer of the Year title awarded by industry professionals in 2025.
