Hillpointe closes workforce housing fund at $190m hard cap

Hillpointe has closed its Hillpointe Workforce Housing Partnership III at its $190 million hard cap, exceeding its $175 million fundraising target.

The fund was oversubscribed, adding both new and existing investors to its mix, particularly endowments, insurance companies, family offices and multi-family offices.

Hillpointe is a fully integrated real estate development and investment firm, focused on the development of market rate workforce housing in the Southeastern United States. Fund III is expected to allow for the development of Hillpointe’s next 12 workforce housing projects, representing $500 million of total asset value and 3,500 workforce housing units across the Southeastern United States.

“As with our earlier funds, Fund III seeks to capitalize on Hillpointe’s vertically integrated platform to deliver high quality, newly constructed multifamily units at rents attainable for median income earners,” said Steven Campisi, co-founder and managing