Waterton Closes $920M Multifamily Fund

Chicago-based Waterton acquired Greenwood Plaza, a 266-unit rental community located in the Denver suburb of Centennial, last year.

CHICAGO—Waterton, a national real estate investor and operator, just closed its latest multifamily value-add investment fund, Waterton Residential Property Venture XIII, LP, with $920 million of equity commitments, surpassing its $750 million target. The Chicago-based company launched the fund in fall 2016 and held its final closing on April 18.

It’s another sign that investors still have a lot of interest in the multifamily sector. Although many cities have seen developers complete many thousands of new units, experts say from a pure supply and demand standpoint, the sector’s fundamentals are still quite strong, and the right properties in the right locations will generate value over the long-term.