Marble Capital closes third fund at $650m

Marble Capital has closed its Marble Capital Fund III with more than $650 million in capital commitments, exceeding its initial target of $350 million.

The fund collected capital from both new and existing investors.

Marble Capital Fund III is focused primarily on making preferred equity investments in multifamily developments across the country. To date, the fund has already closed on or committed to $590 million of investments in high-growth Sun Belt markets where demand for housing is growing.

“Multifamily has held up remarkably well through the pandemic as it did in previous downturns,” said David Oelfke, co-founder and managing principal of Marble Capital. “With the prospect of inflation in front of us, we believe real estate serves as an excellent hedge and investment safe haven.”

Since inception in 2016, Marble Capital has raised more than $1 billion of commitments across three funds.