Carmel Partners Investment Fund LP is investing in the acquisition and renovation of residential properties. The fund's strategy is to selectively buy under-performing multifamily properties and actively manage those properties, making value-based improvements to each investment property and its operations. The fund also will also consider development and strategic joint venture opportunities with select real estate operators.

"We believe the current economic environment and pending demographic shifts will produce buying opportunities in certain markets," says company founder Ron Zeff. "Furthermore, our current target markets in Northern and Southern California, Colorado and the Pacific Northwest are anticipating favorable supply and demand characteristics which should translate into higher long-term rent growth and improved occupancy rates."

Zeff notes that after years of working with institutional investors on a deal-by-deal basis, Carmel Partners decided to raise a discretionary fund to quickly and efficiently capitalize on potential investment opportunities. "We believe our focus on select markets, and our strong local market presence will enable us to recognize the value enhancement opportunities we're seeking," he says.