Seattle-based Horizon Realty Advisors (HRA), a property management owner and operator specializing in multifamily and student housing, has raised $125 million for its third equity fund, HRA Opportunity Fund III.
HRA Opportunity Fund III will invest in value-add, core-plus, and core assets in the conventional multifamily and student housing sectors, and will have $400 million in buying power.
HRA has already made its first acquisition on behalf of the fund — a 144-unit apartment community in Sacramento, Calif. HRA said it is actively pursuing additional assets containing more than 100 units, located in markets nationwide.
The fund’s direct predecessor raised $110 million in 2020, and the first fund in the series collected $80 million in 2018.
