Belveron Partners Closes Its Largest Fund to Date

San Francisco-based Belveron Partners, a privately held real estate investment management firm focused on affordable housing, has closed its seventh fund, Flagship Fund VII, with $354 million in capital commitments. Fund VII exceeded its target size of $350 million and is the largest fund raised by Belveron to date. It has already committed approximately $120 million of equity in nine investments across high-growth areas of California and Texas.

The latest fund drew on a diverse group of new institutional capital partners as part of its recent vintage, including a sovereign wealth fund, pension fund, university endowment, family offices and outsourced CIOs.  Since its inception, Belveron has organized seven discretionary funds and several joint venture vehicles with aggregate capital commitments of more than $1.2 billion.

Paul Odland, founder & managing partner, said, “We are incredibly grateful for the support of our longtime investors and are pleased to welcome new institutional thought partners to Fund VII. This continued confidence reflects Belveron’s ability to expand its capital base and build on our track record of thoughtful, yield-focused affordable investments in this nuanced segment of the real estate market.”