San Francisco-based FPA Multifamily has closed its value-added Apartment Opportunity Fund VIII at $1.45 billion, surpassing its target of $1.15 billion in one close.
The commitments came from more than 30 institutional investors and a broad mix of foreign and domestic public and private pension funds, family offices, endowments and foundations.
FPA has raised 12 discretionary funds totaling more than $5.5 billion in equity for both its core-plus and value-added strategies.
FPA owns and manages about 42,000 apartment units valued at more than $10 billion in 35 states.
For more information about this fund and others, visit the IREI.Q database.
