Lubert-Adler raises $30m for Workforce Housing Fund II

Philadelphia-based investment manager Lubert-Adler has raised $30 million for its Lubert-Adler Workforce Housing Fund II-MB, according to a recent Form D filing with the SEC. The manager has a fundraising target of $600 million for the value-added fund.

Lubert-Adler raised $350 million for the fund’s predecessor, Lubert-Adler Workforce Housing Fund, which closed in December 2021. Investors in the initial fund included Santa Barbara County (Calif.) Employees’ Retirement System and Police & Fire Retirement System of the City of Detroit.

Lubert-Adler has more than 25 years of investment and acquisition experience. The firm has invested more than $9 billion of equity in real estate assets valued at more than $25 billion. The investment manager has an extensive network of strategic operating partners across the country and leverages local market knowledge to