Belveron Partners raises $280m for sixth real estate fund

Belveron Partners, a privately held investment firm focused on preserving affordable and workforce housing, has closed its sixth real estate fund at $280 million, surpassing its target of $225 million.

The fund aims to acquire and preserve upwards of 5,000 units of affordable and workforce housing over the next three years, targeting urban and suburban areas in the Northeast, Mid-Atlantic, and Southwest.

“Affordable and workforce housing has become increasingly scarce and valuable in our society, but the ongoing COVID-19 pandemic shines a harsh light on the seriousness of the chasm between supply and demand,” said Paul Odland, founder of Belveron Partners. “One of our objectives for this fund is to make sure that existing affordable properties are protected, improved, and available to serve low- and middle-income families throughout the county.”

Since its inception in 2006, Belveron has raised more than $930 million from institutional investors and curre