Canyon Capital raises $50 million for multifamily fund

Canyon Capital Realty Advisors has raised $50 million for its Canyon Multifamily Impact Fund, according to a filing with the Securities and Exchange Commission. The fund has a $200 million fundraising goal. A final close date was not disclosed.

Citi Community Capital is a partner with Canyon Capital Reality Advisors for Canyon Multifamily Impact Fund.

The Canyon Multifamily Impact Fund seeks to promote long-term, material, positive impact in underserved communities by investing in rental properties as an active owner. It will target multifamily properties or portfolios located in California, Illinois and Texas, in acquisit