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Carmel partners closes fourth discretionary real estate investment fund at $820 million hard cap

Carmel Partners (“Carmel”) today announced the close of its fourth discretionary institutional real estate investment fund, Carmel Partners Investment Fund IV (“Fund IV”), with total commitments of $820 million. With a target raise of $700 million, Carmel’s Fund IV reached its “hard cap” of $820 million and held its final close.

 

Through Fund IV, Carmel will continue to execute its proven strategy of value-add investing in multifamily properties in the country’s supply-constrained markets with high barriers to entry. Consistent with prior funds, Carmel also invests in new development and high-yielding multifamily debt opportunities with compelling risk-adjusted returns. Since initiating investment activity in March 2012, Fund IV has committed approximately $250 million (30%) of equity.

 

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