The Milestone Group raises $750m for latest multifamily fund

The Milestone Group, a real estate private equity firm, has closed its fifth discretionary investment vehicle, Milestone Real Estate Investors V, with $750 million in capital commitments.

The fund was backed by both existing and new investors, representing a wide range of U.S. and foreign institutional investors, including public and private pension funds, endowments, foundations, insurance companies, and other financial institutions.

Fund V’s strategy will be to acquire value-oriented class A and class B multifamily properties across the United States, primarily targeting major, growth markets in the Sunbelt and Mid-Atlantic. Fund V is expected to invest in more than $2 billion of multifamily assets.

“With the final closing of Fund V, we are aggressively pursuing direct asset and portfolio acquisitions as well as partnership recapitalizations where we can provide growth capital to implement revitalized business plans,” said Chris Bartlett, head of capital