Covenant Capital Group's Fund X plans to invest more than $1.7 billion, including debt, into approximately 40 to 50 multifamily assets over the next three years. To date, Fund X has already closed on 13 transactions, with over $600 million in total capitalization.
Covenant began raising Fund X in 2020 and blew past its initial target of $400 million. On June 30, Covenant Apartment Fund X, L.P. closed with $600 million of committed capital.
The fund is the largest in the firm's 20-year history, it said in a statement.
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