Seattle-based property management firm Horizon Realty Advisors (HRA) has completed fundraising efforts for its third equity fund, HRA Opportunity Fund III. The $125 million equity fund will target value-add, core plus, and core assets in both the conventional multifamily and student housing sectors. The fund, which will be deployed during the next 18 to 24 months, will allow for the purchase of assets cumulatively valued in excess of $400 million.
HRA closed its first acquisition in the fund, Apex on the River, a 144-unit apartment community located in Sacramento, back in February. HRA is actively pursuing additional acquisition targets greater than 100 units located in U.S. markets.
Prior to Fund III, HRA closed out its first fund in November 2018 totaling $80 million and its second fund of $110 million in May 2020.
“The increased equity raised in Fund III is a direct result of our long track record of success and a continued disciplined approach to investing,” says Rob Marshall, HRA partner and lead investor.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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