Embrey, a diversified real estate investment company that owns, develops, builds, acquires and manages multifamily residential communities and commercial assets in the United States, has completed the final closing of Embrey Horizontal Living Fund I.
Embrey Horizontal Living Fund I is a $160 million discretionary equity fund that will support the development of a portfolio of build-to-rent projects. Led by Fortune 100 institutional investors, the fund will serve as the foundation for $500 million in build-to-rent projects that Embrey will undertake during the next two years.
The communities are typically 200 to 300 units and are composed of duplexes and townhomes with one-, two- and three-bedroom floorplans. Embrey said it will initially use the funds to break ground on developments in Texas and will expand to other Sunbelt markets afterward.
“This is a major step in Embrey's goal of expanding our fund platform,” said Garrett Karam, CIO of Embrey. “We appr
