The Cortland Enhanced Value Fund V, the fifth in Cortland’s series of closed-end funds, has raised $650 million in a final close, meeting its hard cap.
Cortland’s closed-end funds primarily target value-add multifamily assets in high-growth markets across the United States, particularly in the Sunbelt region.
“As with our earlier funds, Fund V seeks to capitalize on Cortland’s market scale and concentration in target growth markets, primarily in the U.S. Southeast and Southwest, and leverage Cortland’s vertically-integrated operating platform in pursuit of superior operating results,” said Ned Stiker, senior managing partner, investments and capital markets, at Cortland.
Fund V was oversubscribed with backing from legacy investors, along with significant interest from new and existing institutional investors.
“We believe the successful raise of Fund V underscores institutional capital’s strengthening demand for multifamily real estate and
