Waterton, a Chicago-based national real estate investor and operator, has held a final close for its latest multifamily value-add investment fund, Waterton Residential Property Venture XIII (Venture XIII), with $920 million of equity commitments, exceeding its $750 million target. The company launched the fund in fall 2016.
Venture XIII plans to invest more than $2.5 billion, including debt, in 25 to 30 multifamily assets over the next two years. To date, the fund has closed or committed to six transactions, approximating $400 million in total capitalization.
The latest fund is a continuation of Waterton’s value-add real estate investment program, which has spanned more than two decades. Venture XIII will pursue both urban and suburban opportunities in major U.S. markets, with an emphasis on well-located, middle-income housing. The program continues to capitalize on cycle-specific opportunities, such as the growing affordability gap between existing class B and new
