Waterton announces $1.73b final close for U.S. value-added multifamily real estate fund

Waterton has held a final close of Waterton Residential Property Venture XV with $1.73 billion of equity commitments from a diverse group of global institutional investors.

The fund is one of the largest dedicated multifamily value-added funds in the United States, and the firm is poised to invest Venture XV capital through a period of historic pricing disruption, according to the release.

“We expect to see significant opportunities in the multifamily sector as a result of the current, interest-rate-driven disruption and the near-term oversupply in certain markets with healthy longer-term fundamentals,” said David Schwartz, chairman and CEO of Waterton. “This fund represents a strong conviction in a sector and a strategy we’ve been executing for almost 30 years, and a unique cycle-specific opportunity to generate additional alpha in the current market environment.”

“Our fundraising success in the midst of a challenging fundraising environment speak