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IMT Capital has closed its fifth value-add multifamily fund, Fund V, with $820 million in equity commitments. The firm initially sought $800 million in commitments for the fund, but received strong interest from investors, which spanned the gamut of capital sources: university endowments, foundations, pension funds and high net worth individuals. “We were oversubscribed, and we chose to stay with that number because it was comfortable for the strategy and comfortable for our investment partners,” Michael H. Browne, IMT Capital’s co-founder and senior managing director, says about the fundraising process.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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