FCP Realty Fund V, a closed-end value-add fund managed by Maryland-based FCP, has secured more than $494 million against its $1.18 billion fundraising target, according to a recent filing with the SEC.
The fund will invest in multifamily, office and mixed-use assets in the United States. The vehicle specifically targets undervalued and/or underperforming multifamily assets located primarily in select Southeast and Sun Belt markets in the United States, and invests in office assets on an opportunistic basis.
The previous fund in the series, FCP Realty Fund IV, held a $755 million final close in November 2018.
