JUNE 26, 2017

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New Mexico considers commitment to Berkshire multifamily fund

by Jody Barhanovich

The $20 billion New Mexico State Investment Council is considering investing in Berkshire Multifamily Value Plus Fund IV, according to a meeting agenda document. The final decision/approval will be made at the pension fund’s investment meeting on June 27.

Berkshire Multifamily Value Plus Fund IV and its co-investment vehicles were formed to target a broad range of multifamily investment opportunities in major U.S. markets by investing in acquisition, debt, development and recapitalization transactions. The fund opened in the second half of 2016 and seeks to raise a maximum $350 million in equity commitments.

In 2005, the firm formed Berkshire Multifamily Value Fund to assemble a $1.2 billion value-add portfolio of assets across the United States and followed up in 2007 with the $1.4 billion Berkshire Multifamily Value Fund II, targeting major U.S. markets.

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