Civicap Partners announces final close on Develop-To-Core Fund II
Civicap Partners has held a final close for its Develop-To-Core Fund II (DTC II), raising $179 million.
DTC II is singularly focused on the creation of workforce housing in the major Texas markets. This is Civicap’s second fund in the series and provides high-quality attainable housing solutions while generating strong risk-adjusted returns for investors.
DTC II is a 2,362-unit portfolio across the Texas metros of Houston, Austin, Dallas/Fort Worth, Waco and Tyler, with an average underwritten rent check below $1,700 serving households with annual incomes between $50,000 and $100,000. The fund garnered support from investors who see the unique opportunity in the undersupply of middle-income housing across the country.