Praedium launches new multifamily fund
The Praedium Group, a New York City–based national real estate investment firm, has launched its ninth multifamily fund, Praedium IX Multifamily Value Fund, according to a filing with the SEC.
Praedium IX Multifamily Value Fund is a value-added real estate fund that will invest in multifamily assets throughout the United States. Praedium has raised $115.94 million in equity commitments for the closed-end fund. No target final close date has been disclosed.
The fund’s predecessor, Praedium VIII Multifamily Value Fund, launched in 2013 with a $600 million equity fundraising goal. The fund targets undervalued multifamily assets across the United States with a focus on management and value-added opportunities. The fund has a total expected capitalization of $1 billion when fully