Hillpointe, a fully integrated real estate development and investment firm focused on workforce housing in the southeastern United States, has closed its Workforce Housing Partnership II at $110 million. The fund was oversubscribed, exceeding its $100 million fundraising target.
Throughout 2020, the workforce-housing sector in the southeastern United States outperformed other real estate asset types. Suburban locations, sunbelt states, secondary markets and the workforce-housing subsector were strong performers in 2020. Due to an undersupply of workforce housing, Hillpointe has identified opportunities to develop high-quality, newly built housing targeted for renters who earn a specific amount.
The Hillpointe Workforce Housing Partnership II will focus on the development of class A quality apartments competitively priced for workforce tenants.
“The Fund will allow for the development of the next eight workforce housing projects in our pipeline representing app
