Citymark Capital raises $150m for second fund

Citymark Capital has reached the fundraising target of $150 million for its second fund, Citymark Capital U.S. Apartment Fund II.

Citymark’s platform provides joint venture equity for value-add multifamily investments, executed by experienced regional and national operating partners. The firm targets institutional-quality, garden-style communities ranging in size from 100 to 400 units, in the Top 50 U.S. markets based on population. Total acquisition costs typically range between $40 million and $100 million.

Citymark launched Fund II in 2018 and secured commitments from 100 percent of the institutional investors from its debut fund.

“We are grateful to our investors for their trust and confidence in our strategy,” said Daniel Walsh, Citymark CEO. “Their support underscores our belief in the consistent performance of institutional-quality multifamily investments through different economic environments, including market disruptions.”

Fund II’s