Carmel Partners has closed its latest real estate fund, Carmel Partners Investment Fund VI, at $1.03 billion. The fund exceeded its target $1 billion, according to Carmel spokeswoman Lisa Baker. The company’s previous fund closed at the same amount in 2014.
The domestic multifamily value fund’s investments include property development and construction; specifically, in U.S. markets in which it is difficult to build new multifamily buildings.
Investors in this fund include the Texas County & District Retirement System and the San Francisco Employees' Retirement System.