Carmel Partners, a specialist in real estate investment management focused on U.S. multifamily development, renovation and debt investments, has completed the final closing of its Carmel Partners Investment Fund 8.
The firm closed its U.S. multifamily real estate value-creation fund at $1.58 billion, exceeding the target size of $1.5 billion.
Fund 8 is Carmel’s largest fund to date. The investor mix included U.S. and international pension funds, endowments, foundations, insurance companies and select high-net-worth individuals and family offices.
Carmel’s vertically integrated platform 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.
Carmel has raised more than $7 billion since the inception of its fund series in 2003.
