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Fairfield Closes Its Largest Value-Add Fund to Date
San Diego-based Fairfield held its final close for Fairfield U.S. Multifamily Value Add Fund IV LP with $1.47 billion of equity commitments, including $350 million of co-investment equity, exceeding its $1-billion target and representing its largest value-add fund to date. Fairfield’s Value Add Fund III raised approximately $1 billion of equity
“In a tough fundraise environment, we are excited both with the result of our capital raise and with the
confidence and trust that we have received from investors and consultants,” said Richard Boynton, CEO of Fairfield. “Having the capital committed and available to invest will allow us to pursue the attractive buying opportunities that we expect to see at an exciting point in the multifamily investment cycle.”
Fund IV’s investment strategy will focus on acquiring value add multifamily assets in over 30 major metro areas nationwide. Approximately $385 million of equity has been deployed to date in 16 assets.
- ◦Financing
