Fundraising - MARCH 18, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

GTIS Partners raises $155.3 million for residential fund

by Andrea Waitrovich

GTIS Partners has raised $155.3 million for its GTIS U.S. Residential Strategies Parallel Fund, according to a filing with the Securities and Exchange Commission. The opportunistic vehicle has a $400 million fundraising goal. It willprovide financing to U.S. homebuilders and buy distressed residential parcels.

GTIS Partners is one of many private equity firms investing in distressed single-family housing. The U.S. government plans to market 200,000 foreclosed homes as rentals as a strategy to speed up the economic recovery. GTIS Partners expects to invest $1 billion by 2016, acquiring single-family homes to manage as rentals. Recently, the firm acquired 563 acres in Phoenix, Ariz. The parcel is entitled for 3,500 residential and multifamily units. Fifty acres has been designated for commercial use, which could include retail, office and hospitality space.

GTIS Partners is a global real estate investme

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy