Waterton has raised $1.73 billion from its latest funding round and plans to take advantage of a slow multifamily market.
It comes from the property management firm's final closing of Waterton Residential Property Venture XV, L.P. Waterton in a statement referred to the money raked in as "one of the largest dedicated multifamily value-add funds in the United States."
Also, the Chicago-based firm said it plans on investing roughly $5 billion in 30-40 assets across major U.S. markets in both suburban and urban areas, focusing on key fundamentals including favorable employment figures, and transportation logistics. Plus, the new funding will target traditional value-added properties and distressed opportunities.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.