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Seneca Capital Partners has closed its second workforce-housing fund, Seneca Capital Income Real Estate Fund II. The fund closed over-subscribed with $28 million in equity.

With leverage, Seneca plans to acquire $90 million in workforce housing assets. The firm plans to execute the same strategy as its SCIRE Fund I.

The firm's first fund closed in July 2018 with $24 million in equity commitments. The fund invested in nearly 1,200 homesites spanning half-dozen manufactured housing communities, and several of the communities are located on the outskirts of the fastest-growing cities in America including Dallas, Tampa and Houston.

Instant Insights /

Seneca Capital Partners Closes $28M Workforce Housing Fund

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