Carmel Partners' Multifamily Fund Closes With $1.58B
The fund exceeded its target size of $1.5 billion.
Carmel Partners closed Investment Fund 8, its U.S. multifamily real estate value creation fund. Fund 8 exceeded its target size of $1.5 billion.
At $1.58 billion, Fund 8 is Carmel’s largest fund to date. Investors include U.S. and international pension funds, endowments, foundations, insurance companies and high net worth individuals and family offices. Carmel has raised over $7 billion since the inception of its Fund series in 2003.
Carmel focuses on multifamily investments in supply-constrained, high barrier-to-entry U.S. markets including Northern and Southern California, Boston, Denver, Hawaii, New York, Seattle and Washington, D.C. These investments include ground-up development, renovation and debt instruments.