Fundraising - MARCH 18, 2013

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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

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