Miami Lakes-based Kislak Organization launched its fifth tax-lien certificate fund called Sunshine State Certificates V, LLP.
Kislak said it purchased tax-lien certificates at the 2014 auctions in Florida and New Jersey, among other states, and expects to continue acquiring certificates in various states during the life of the fund.
Kislak’s four earlier funds totaled nearly $160 million of purchases.
The latest fund is expected to generate a return of “more than 5 percent,’’ Kislak said. “On a relative risk basis, it’s an excellent return,’’ Thomas Bartelmo, president and CEO of Kislak, said.
The fund has lined up nearly $11 million in capital commitments, including $1 million from Kislak Organization itself. Kislak also has obtained a $25-million revolving line of credit with BankUnited.