SAN FRANCISCO, April 11, 2023 /PRNewswire/ -- Carmel Partners ("Carmel"), announced today the final close of Carmel Partners Investment Fund 8, its U.S. multifamily real estate value creation fund. Fund 8 exceeded its target size of $1.5 billion.
At $1.58 billion, Fund 8 is Carmel's largest fund to date. Investors 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.
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, will enable us to find compelling investments in any market cycle."
About Carmel Partners Founded in 1996, Carmel is one of the nation's leading specialists in real estate investment management, focusing on U.S. multifamily development, renovation and debt investments. Through its vertically integrated platform, Carmel seeks to achieve superior risk-adjusted returns across varying market cycles by investing in relatively supply-constrained, high barrier-to-entry markets in the United States. Since its founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, more than 50,000 apartment units and has made 22 debt investments with a combined estimated Gross Value of more than $19.5 billion.
Carmel has offices in San Francisco, Los Angeles, New York, Denver, Seattle and Washington, D.C. For more information, please visit www.carmelpartners.com.
SOURCE Carmel Partners