(Save the date: RealShare Apartments comes to theWestin Bonaventure, Los Angeles, October24.)
SAN FRANCISCO-In order to continue pursuing its proven strategyof investing in the multifamily sector throughvalue-add acquisitions, certain ground-updevelopments, debt investmentsand joint ventures with appropriate risk/return profiles,Carmel Partners has closed its fourthdiscretionary institutional real estate investment fund.Carmel Partners Investment Fund IV, targeted toraise $700 million, reached its “hard cap,” with total commitmentsof $820 million.
Carmel will continue its strategy in supply-constrained marketswith high barriers to entry throughout the country. Consistent withprior funds, Carmel also invests in new development andhigh-yielding multifamily debt opportunities with compellingrisk-adjusted returns. Since beginning investment activity in March2012, Fund IV has committed approximately $250 million of equity,or 30%.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
