Berkshire raises an additional $43 million
Boston-based Berkshire Group has raised an additional $43 million for its value-added vehicle Berkshire Multifamily Value Plus Fund III (BVMF III), according to a filing with a Securities and Exchange Commission. To date, the vehicle has raised $211 million in equity commitments, which aims to raise $400 million overall.
The firm held a $168.5 million first close in January.
BVMF III follows the same strategy as its predecessors. It will make debt and equity investments in multifamily assets across the United States, as well as target redevelopment and ground-up development. The fund will employ different investing strategies in the multifamily sector to help mitigate risk, and a maximum of