Centennial holds $200m final close for multifamily fund
Centennial Holding Co. has held a final close for its fourth fund, Centennial Real Estate Fund IV, raising $200 million in equity commitments.
Through Fund IV, Centennial will employ the same investment strategy as it did with its previous funds, targeting low-risk, class A multifamily assets, typically contemporary, upscale garden and mid-rise apartment communities with an average of 250 to 300 units using a core-plus/value-added strategy. Geographically, Centennial will target high-growth areas of the Southeast and mid-Atlantic, as well as central Texas.
Centennial Real Estate Fund III closed in 2012 with $107 million in equity commitments.