Greystar Real Estate Partners and Credicorp Capital has held a final close on Fondo de Inversión Credicorp Capital Renta Residencial II with aggregate equity commitments of more than $100 million.
Fondo Renta Residencial II is Greystar’s and Credicorp Capital’s second discretionary commingled fund focused on both the acquisition and development of high-quality rental housing assets in Chile. Its closing marks the largest ever single fundraise in the history of Chile’s rental housing market.
Including leverage, Fondo Renta Residencial II has $350 million in total capital available to invest and will finance the development and acquisition of five to seven rental housing properties with an aggregate of approximately 1,500 units in the eastern region of Santiago. Investors in Fondo Renta Residencial II include a diverse group of insurance companies, family offices and high-net-worth individuals, reflecting a balanced mix of institutional and private investors.
