Croatan Investments targets $100m for debut multifamily fund

Croatan Investments, a Virginia Beach–based private equity real estate manager focused on multifamily investments, is seeking to raise $100 million in capital for its debut Multifamily All-Weather Fund 1.

The fund will acquire and develop multifamily properties in mid-Atlantic and Sunbelt states. Croatan also will form joint ventures to acquire and develop these properties, in some cases.

“Multifamily rental housing enjoys a long-term macroeconomic tailwind as we foresee a multi-decade shortage of affordable housing stock, shifting preferences away from homeownership toward the rental model, and the recession-resilient nature of the asset class,” stated to the firm’s website.

In addition, Croatan targets high job and population growth markets with positive long-term housing demand drivers. The firm employs an opportunistic strategy and a style-agnostic approach to its investment structure.

The vehicle raised an initial $16 million in April, and ha