FPA launches new multifamily real estate fund

FPA Multifamily, a San Francisco–based multifamily property developer, owner and operator, has launched FPA Apartment Opportunity Fund VI, according to a filing with the SEC.

FPA Apartment Opportunity Fund VI is an opportunistic real estate fund that will invest in U.S. multifamily properties. The fund has currently raised $132.7 million in equity commitments, according to the filing.

FPA Multifamily has completed more than $8.5 billion in transactions since inception. FPA is currently investing on behalf of the fund’s predecessor, FPA Apartment Opportunity Fund V.  Fund V will use $1.4 billion of buying power to purchase multifamily assets in major U.S. cities, according to the firm’s website.

FPA Apartment Opportunity Fund IV closed in 2013 with a total of 45 multifamily assets, while FPA Apartment Opportunity Fund III closed in 2011 with a total