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.”
Other News
RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
Learn more
Pasadena Offices Sell for Residential Conversion
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
Learn more
Berkadia Negotiates Student Housing Property Sale in Kansas
Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout