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Carmel Partners Closes Ninth Multifamily Fund at $1.35B
San Francisco-based Carmel Partners said Tuesday it had reached final close on Carmel Partners Investment Fund 9, its U.S. multifamily real estate value creation fund. Fund 9 closed at $1.35 billion and has already acquired nine operating assets.
Investors in Fund 9 include U.S. and international pension funds, endowments, foundations, select family offices and high-net-worth managers. Carmel has raised more than $8.5 billion since the inception of its Fund series in 2003. The firm focuses on multifamily investments primarily in supply-constrained, high-barrier-to-entry U.S. markets.
Ron Zeff, founder and CEO of Carmel Partners, said, “We are grateful for the continued support of existing investors and welcome our new investors. We value the trust they place in us to invest on their behalf. Fund 9 has a well-seeded portfolio with $477 million in committed equity and is deploying into what we believe is the most attractive multifamily opportunity set that the firm has seen in almost 30 years of investing.”
- ◦Sale/Acquisition
- ◦Financing
