Waterton’s Residential Property Venture XIV fund has completed a final close with $1.5 billion of equity commitments, making it one of the largest dedicated multifamily value-add funds in the United States.
Venture XIV was backed by a diverse group of global institutional investors, including both long-term and new partners.
Waterton said Venture XIV will target cycle-specific distressed opportunities, as well as traditional assets. Similar to its $920 million predecessor fund, Venture XIV will pursue urban and suburban opportunities in major U.S. markets, with an emphasis on well-located, well-maintained workforce housing.
“We expect to see significant opportunities in the multifamily sector across the country due to the disruptive nature of the COVID recession,” said David Schwartz, chairman and CEO of Waterton. “This fund represents a unique opportunity to invest in a strategy we’ve been executing for 25 years that evolves to capitalize on cycle-spe
