Turner raises $264m for multifamily fund

Turner Impact Capital, an investment management firm based in Los Angeles, has raised $264 million for its Turner Multifamily Impact Fund.

The Turner Multifamily Impact Fund is positioned to acquire apartment communities in urban markets throughout the United States. The fund is seeking $1 billion in equity commitments. The fund already has made strategic acquisitions in Atlanta, Austin, Dallas, Las Vegas, Miami, San Antonio and Washington, D.C., with more planned this year.

The fund’s most recent acquisitions, all of which are garden-style communities, include The Grove apartment communities, located just west of San Antonio International Airport; the San Mateo apartment communities in San Antonio; and the Sinclair apartment communities in Norcross, Ga.

Investors in the fund include Citi Community Capital, the Regents of the University of Michigan, the Texas Permanent Land Fund and the Rockefeller Brothers Fund.

According to a statement, the fund is t