Crow Holdings Raises $680 Million for Multifamily Build-to-Hold Fund
Dallas-based Crow Holdings has closed on their third development pool for their Multifamily Build-to-Hold Fund. The most recent round of equity commitments from investors was $332 million. With anticipated leverage, Crow says it provides capitalization for more than $1.1 billion of apartments.
The fund is designed to build a geographically diversified portfolio of stable, quality multifamily assets at wholesale prices to be held for the long term. The fund is intended to be a source of steady cash flow and value creation.
Crow Holdings Bob McClain says their experience is key, “With hundreds of realized transactions over the past two decades, we’ve honed our ability to analyze and execute transactions that are geographically diversified in cities and regions with the most durable renter demands.”
The company announced the close of Crow Holdings Industrial Properties Trust on March 14 and the close of Development Opportunities Fund on March 28, combining for more than $1.7 billion in equity commitments.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.