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San Antonio-Based Embrey Closes $160 Million Equity Fund
Embrey, a real estate investment company that is based in San Antonio, TX, has completed the final closing of Embrey Horizontal Living Fund I, a $160 million discretionary equity fund to support the development of a portfolio of build-to-rent projects.
Led by Fortune 100 institutional investors, the fund is the foundation for $500 million in build-to-rent projects that Embrey will start over the next two years. Initial developments will break ground in Texas markets in the coming months, with expansion to other Sunbelt markets to follow.
The communities are typically 200-300 units and are comprised of duplexes and townhomes with one-, two-, and three-bedroom floorplans. Units have individual yards and private garages, and the communities include amenities such as pools, clubhouses, fitness centers, dog parks, and full-service management.
“This is a major step in Embrey’s goal of expanding our fund platform,” said Embrey’s Chief Investment Officer Garrett Karam. “We’ve invested heavily to create the team and the capabilities necessary to raise and service institutional-level funds.”
- ◦Development
- ◦Financing
