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American Landmark Apartments has raised $1.04 billion (€957 million) for its fourth value-add US real estate fund.
The multifamily property owner and manager said American Landmark Fund IV and its affiliates have exceeded its $975 million goal, giving Fund IV $2.6 billion in leveraged investment capacity. Stated.
The previous film in the series raised $980 million.
American Landmark said Fund IV’s backers include existing and new investors, as well as domestic and international institutions such as sovereign wealth funds, pension funds, endowments and insurance companies.
Fund IV focuses on the acquisition, renovation, and management of multifamily properties throughout the U.S. Sunbelt region.
Joe Lubeck, CEO of American Landmark, said: Both repeat and new investors, primarily institutional investors, participated. We appreciate the investment community’s confidence in American His Landmark to navigate the current real estate market. ”
“2023 has been a challenging year for fundraising, but we are very pleased with the successful final closing, which exceeded our goals,” said David Tepperman, Global Head of Capital Markets at American Landmark. Ta. This is a testament to our team’s consistency and continued commitment to performance for our clients.
“We deeply appreciate the continued support from our existing investor base and are excited about the new relationships we have developed. [limited partner] The community’s confidence in American Landmark’s expertise as an experienced manager and the resiliency of the multifamily housing sector. ”
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