Covenant Capital Group opens new $600m apartment fund

Nashville-based Covenant Capital Group has opened a new fund with a $600 million fundraising target, IREI has learned.

The vehicle — Covenant Apartment Fund XI — will focus on value-add acquisition and renovation opportunities in the multifamily sector. IREI understands the fund's target markets are located in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

The previous fund in the series closed in June 2021 with $600 million of committed capital, surpassing its target of $400 million.

Covenant Capital Group is a real estate investment management company with an exclusive focus on value-add investments in apartment communities. The firm declined to comment on its fundraising activity.

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