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Laxman Pai, Opalesque Asia: Carmel Partners, an institutional investment manager, has completed capital-raising for its latest investment vehicle, Carmel Partners Investment Fund 8, through which it has raised $1.58 billion, topping its $1.5 billion target.
At $1.58 billion, Fund 8 is Carmel's largest fund to date, said a press release from the specialists in real estate investment management.
Investors of the U.S. multifamily real estate value creation fund include U.S. and international pension funds, endowments, foundations, insurance companies, and select high-net-worth individuals and family offices. Carmel has successfully raised over $7 billion since the inception of its Fund series in 2003.
According to the release, Carmel has a vertically integrated platform that 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.
Ron Zeff, Founder and CEO of Carmel Partners, said: "We are grateful for the continued support of existing investors and welcome our new investors, and we value the trust they place in us to invest on their behalf. We believe that the wide-ranging expertise Carmel has developed through decades of investing in acquisitions, renovations, ground-up projects as an owner/builder, and real estate debt instruments, ...................... To view our full article Click here
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