FPA Multifamily exceeds fundraising target

FPA Multifamily has closed its FPA Apartment Opportunity Fund VII with $950 million in commitments, which with leverage will yield investments of $3 billion in value-added apartments throughout the United States.

FPA was able to surpass its $750 million target in one close and was able to re-up 100 percent of its previous Fund VI investors. The commitments came from a broad mix of endowments, sovereign wealth funds, foundations, pension funds and family offices.

FPA Multifamily is a private equity real estate firm focused on the acquisition, renovation and management of both work force housing and core-plus apartment communities. Founded in 1985, FPA has owned more than 115,000 apartment units valued at over $12.5 billion and was ranked the 32nd largest owner of apartments in the United States by the NMHC.

FPA invests nationally through both its value-add and core-plus focused funds.  Headquartered in San Francisco, FPA also has offices in Atlanta; Chicago; Dal