Phoenix Capital Partners holds $225m final close

Phoenix Capital Partners, a private equity real estate firm, has held a $225 million final close for Phoenix Real Estate Fund VIII. The firm did not comment on its fundraising efforts.

Phoenix Capital Partners focuses on providing capital to developers and operators for middle-market investments in dynamic, supply-constrained growth markets throughout the United States. The firm has been in business for 21 years and has consistently performed in the top quartile among other private equity real estate managers.

Phoenix Real Estate Fund VIII is an opportunistic real estate fund that invests in middle-market U.S. multifamily properties through joint ventures. It follows the same investment strategy as its predecessor, Phoenix Real Estate Fund VII, which held a $150 million final close in 2016.

Since its founding in 1996, Phoenix Capital Partners has invested more than $1 billion of equity capital, representing over $5 billion in total project costs, and currently h