Multifamily real estate firm Cortland has raised $1.5 billion through a private equity funding round and is now looking to seize opportunities in the Sunbelt region.
The Atlanta-based company originally set a target of $1 billion but it was oversubscribed due to support from new and legacy investors. The Cortland Enhanced Value Fund received 80 percent of the commitments from institutional firms, and about a quarter from foreign ones.
This marks Cortland's sixth multifamily value-add multifamily fund it has closed.
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