Nebraska-based Farnam Street Real Estate Capital (FSREC), a real estate investment firm, has selected UMB Fund Services (UMBFS), a subsidiary of UMB Financial Corporation, to provide its fund accounting, investor servicing and tax reporting services.
In addition to utilising UMB Fund Services for fund administration, UMB Bank has worked closely with Farnam Street Real Estate Capital on various treasury, depository and institutional trust services.
FSREC launched its first closed-end fund, Farnam Street Real Estate Capital Partners on 7 May 2021.
The mandate is one of the first of the year for UMB Fund Services. In August 2021, UMB Fund Services was selected by Alternative Fund Advisors to provide its fund accounting, tax reporting and fund administration services.
In February of the same year, Pennsylvania-based Hamilton Lane Private Assets Fund selected UMB to provide its fund administration, accounting, transfer agency, distribution and custody services.
Commenting on the Farnam Street mandate, Joel Falk, president of Nebraska at UMB Bank, says: “The newly formed administration relationship between UMB Fund Services and Farnam Street Real Estate Capital showcases the depth and breadth of services that UMB Financial Corporation offers to clients in Omaha and across the bank’s footprint.”
He adds: “Through serving as a valued banking partner in the region, we continue to build our strong relationship with Farnam Street Real Estate Capital as they expand their relationship with UMB by utilising our institution’s award-winning fund servicing business.”
