Eagle Rock raises $114 million

UOB Eagle Rock Multifamily Property Fund, a core-plus multifamily fund managed by New York City–based real estate manager Eagle Rock Advisors, has raised approximately $114.6 million, according to a filing with the Securities and Exchange Commission. The fund launched on Nov. 14, 2011, with a $150 million fundraising goal.

Eagle Rock’s partner United Overseas Bank of Singapore (UOB Global Capital) invested $25 million, while Eagle Rock has invested between $50 million and $52 million. The remaining equity has been raised from undisclosed domestic and international investors and high-net-worth individuals. A final close is expected in April 2013.

The fund invests in garden-style multifamily assets located in the Northeast, particularly markets located between Boston and Washington, D.C.

“Our goal is to create this portfolio and use our operating platform to create tho