The Roseview Group and WinnCompanies, both based in Boston, have created a $200 million real estate investment fund to purchase and reposition multifamily properties across the country.

The firms will use Roseview WinnResidential I, the newly created fund, to buy up Class B and C+ apartment buildings with at least 150 units and rehab the properties.

Fund managers will "actively consider" investing in assets that provide energy-efficient improvement opportunities, according to information from the firms.

"This venture builds on a 20-year relationship between the principals of our two firms and our institutional partner," Vince Costantini, Roseview Group CEO, said in a statement. "The strong demand for multifamily housing will grow as the economy continues to recover and fuels new job growth. We believe there is a very strong risk-adjusted opportunity in 2013, and beyond, to improve existing properties to meet the current and growing demand for apartments while delivering consistent returns during rehabilitation."

Both firms will participate in acquisitions, sourcing and underwriting underperforming properties. WinnResidential, the property management arm of WinnCompanies, will act as property manager and operator for each investment. Winn will be responsible for completing capital repair improvements and energy efficiency work. 

Winn has raised more than $800 million of institutional equity, principally through the syndication of low-income housing and historic tax credits. In 2010, Winn, through a joint venture, acquired an interest in a multifamily portfolio containing more than 7,700 units. Through a program of selected capital improvements and management changes, Winn increased this portfolio’s net operating income by 25 percent in two years, according to a company statement.