TH Real Estate holds $245m close for U.S multifamily housing fund

TH Real Estate has closed CASA Partners VII (CASA VII), the seventh fund in a series of multifamily housing club funds.

The fund closed after raising $245 million in equity from investors from three large U.S. state pension plans that are repeat CASA Funds investors and a German pension fund. With leverage, the equity commitments will allow the fund to target a portfolio of approximately $400 million.

The fund is focused primarily on U.S. value-added rental housing and seeks to provide its investors enhanced returns with high sustainable income.

“The CASA strategy takes an integrated approach, combining multiple value-enhancing investment strategies with income-enhancing, low-cost specialty bond financing to meet its goals,” said Jay Martha, TH Real Estate’s head of U.S. Multifamily Investments.

TH Real Estate’s U.S. multifamily housing investment platform serves numerous funds and mandates and has 32,000 units in urban luxury, workforce and stud