NEW YORK CITY—TH Real Estate said Tuesday it had closed its latest multifamily club fund, CASA Partners VII LP, at $245 million. The fund will target a portfolio of approximately $400 million; it has already acquired seven geographically diverse properties.
“The CASA strategy takes an integrated approach, combining multiple value-enhancing investment strategies with income-enhancing, low-cost specialty bond financing to meet its goals,” says Jay Martha, TH Real Estate's head of US multifamily investments. “The team executing this strategy has worked together for decades, successfully navigating multiple market cycles, and we are pleased to have completed this latest fundraise.”
CASA VII drew the interest of three large US state pension funds that have invested in its predecessors, as well as a German pension fund. The previous fund in the CASA series closed at $260 million in September 2014.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
