Crystal View Capital has launched a third real estate fund. Crystal View Capital Fund III will invest in manufactured housing communities and self-storage facilities with a value-add business plan. The fund will seek to raise $95 million of investment capital with a minimum investment of $50,000.

The fund launched only two weeks ago and already has $10 million in capital commitments. Crystal View already has $10 million in assets under contract, which are scheduled to close in the first quarter of the year.

Crystal View Capital targets self-storage facilities and manufactured housing communities, and has seen an increase in demand for these properties from its limited partners from previous funds. "Due to the performance of self-storage and manufactured housing during the COVID-19 pandemic, interest in both asset classes has been prodigious from institutional investors and all investors looking for yield," says Matthew Ricciardella, principal and managing partner at Crystal View Capital.