Fund II

Carmel Partners Fund II raised $400 million from institutional investors, including a large percentage of investors in Fund I.  Fund II was invested over the period of 2006-2007 in 25 properties, totaling 4,538 units in the target markets of California, Washington, DC, Denver, Hawaii, and Seattle.  Investments made were primarily acquisition/rehab opportunities of existing multi-family assets.  However, Fund II also invested in a public/private partnership to develop student housing at UC Davis where the supply of housing is tightly constrained. Below is a sampling of Fund II assets.