Eagle Rock Properties announces partner promotions, holds $300m close

Eagle Rock Properties has completed a 2019 venture with a U.S. institutional investor totaling nearly $300 million in equity capital. Eagle Rock will be actively deploying this capital in its next investment vehicle, Eagle Rock Multifamily Income & Value Fund, targeting value-add multifamily opportunities across the Northeast and mid-Atlantic regions. The new fund has pre-launch commitments of over 85 percent and is expected to aggregate approximately $700 million in new multifamily investments.

In separate news, Eagle Rock Properties has promoted Rishi Gupta and Ilda Rastoder to partner.

Gupta and Rastoder helped launched its private equity arm in 2011. They helped with the formation, fundraising and deployment of Eagle Rock’s fund series, which is winding up deployment of its most recent fund, which has amassed over 2,500 apartments in 14 communities within the last two years.

Gupta and Rastoder have taken lead roles in the acquisition and recapitalizati