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Sign in Sign up for a FREE subscriptionLEM Capital exceeds fundraising target for value-add multifamily fund
LEM Capital (LEM) has raised $330.8 million for its fifth fund, targeting investments in class-B value-add multifamily properties in primary and secondary suburban markets across the United States. LEM Multifamily Fund V surpassed its fundraising target of $300 million.
The firm reported that more than 80 percent of investors were repeat investors from previous fundraises, including the two lead investors. To date, the firm has raised more than $1.3 billion in investor commitments.
LEM invests in apartment assets located in primary and secondary markets on the East and West coasts, the four major cities in Texas, Phoenix, Denver, Minneapolis, Chicago, Nashville and other cities on a select basis.
Since 2011, the firm has invested in 94 multifamily properties across 27 markets and has realized 51 of those investments. Between March and May, the firm acquired one property, sold another, and completed two refinancings. In addition, LEM is actively negotiating the s