LEM Multifamily Fund VI closes above $450m target

LEM Capital has closed its LEM Multifamily Fund VI with $450.8 million of capital commitments, surpassing its target of $450 million.

The value-added fund will invest in multifamily assets in the United States.

The fund’s predecessor, LEM Multifamily V, closed in 2020 at $330.8 million, exceeding its fundraising target of $300 million. Fund V targets investments in class B value-add multifamily properties in primary and secondary suburban markets across the United States.

LEM invests in apartment assets located in primary and secondary markets on the East and West coasts, four major cities in Texas, as well as Phoenix, Denver, Minneapolis, Chicago, Nashville and other cities on a select basis.