CLEVELAND, OH – Actual property funding agency and fund supervisor Citymark Capital has efficiently reached the fundraising goal of $150 million for its second fund, Citymark Capital U.S. Residence Fund II (“Fund II”).
Citymark’s platform supplies three way partnership fairness for value-add, multifamily investments, executed by skilled regional and nationwide working companions. The agency targets institutional-quality, garden-style communities ranging in measurement from 100-400 items, within the High 50 U.S. markets based mostly on inhabitants. Complete acquisition prices sometimes vary between $40 million and $100 million.
Citymark launched Fund II in 2018 and secured commitments from 100% of institutional traders from its debut fund. “We’re grateful to our traders for his or her belief and confidence in our technique,” stated Citymark Chief Government Workplace Daniel Walsh. “Their assist underscores our perception within the constant efficiency of institutional high quality multifamily investments by means of completely different financial environments, together with market disruptions.”
Fund II’s present portfolio contains six multifamily communities. The belongings, ranging in measurement from 120 items to 408 items, are situated in Las Vegas, Dallas, Houston, Atlanta and Raleigh.
Citymark Capital’s $80 million debut fund closed in 2017 with numerous assist from pension funds, insurance coverage corporations, high-net-worth people and household places of work. In 2018 the Fund was absolutely invested in six belongings situated in Atlanta, Orlando, Phoenix, Dallas, New York and Las Vegas. Citymark has exited 4 of the fund’s six investments, with plans to exit the remaining belongings within the close to future.
For additional data on Citymark Capital, go to www.citymarkcapital.com or contact Matt Porath at 216-453-8087 or Dana Banda at 216-453-8088.
The overall data mentioned is just not a assure, prediction, or projection of actual property investments. There are dangers related to investing in actual property belongings, corresponding to inflation, rates of interest, actual property tax charges, adjustments within the common financial local weather, native situations corresponding to inhabitants traits and neighborhood values, and provide and demand for comparable property sorts. This communication might include forward-looking statements recognized by way of phrases corresponding to “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “might,” “will,” “ought to,” “seeks,” “roughly,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the destructive model of those phrases or different comparable phrases. Such forward-looking statements are topic to varied dangers and uncertainties. Accordingly, there are or can be necessary elements that might trigger precise outcomes or outcomes to vary materially from these indicated in these statements. These elements shouldn’t be construed as exhaustive.