HQ Capital holds $152m final close for real estate fund

HQ Capital, an independent investment manager for alternative investments, has held a final closing for its U.S. multifamily opportunistic real estate fund, RECAP Opportunity Fund II, raising $152 million, exceeding its target fundraising amount.

RECAP Opportunity Fund II continues to pursue the primary strategy of the firm’s prior opportunistic funds by making investments in joint venture ground-up development and select value-add acquisitions of multifamily rental properties located in growth-oriented markets throughout the United States.

“We continue to see strong interest from investors for U.S. multifamily real estate,” said Paul Doocy, co-head of real estate. “Compelling demographics, steady job growth and relative affordability are the key drivers of this strategy.”

To date, the fund has closed on eight investments across the United States, including six multifamily rental development projects and two multifamily rental value-add properties. The