Berkshire Residential Investments closes oversubscribed debt fund
Berkshire Residential Investments closes oversubscribed debt fund
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Berkshire Residential Investments closed its real estate debt fund Berkshire Bridge Loan Investors II at $1.5 billion.
The fund exceeded its fundraising target of $1 billion, said spokesman John Dobroski in an email.
According to the news release, the fund supports the MF1 direct lending platform, a partnership between Berkshire and Limekiln Real Estate that provides financing for U.S. multifamily assets including mezzanine debt, preferred equity and senior mortgages.
The previous fund, Berkshire Bridge Loan Investors I, closed at $452 million in 2019.
Investors in the new fund include the $29.8 billion New Mexico State Investment Council, Santa Fe.
Berkshire Residential Investments raises $1.5bn for its debt fund Tuesday, May 04, 2021
Laxman Pai, Opalesque Asia:
Boston-based real estate investment management company Berkshire Residential Investments closed its real estate debt fund Berkshire Bridge Loan Investors II at $1.5 billion.
The fund exceeded its fundraising target of $1 billion and received commitments from nearly 60 institutional clients around the globe and includes both new and existing investors for the firm, said a press release from the vertically integrated residential real estate investment and property management company with over 50 years of experience.
Investors in the new fund include the $29.8 billion New Mexico State Investment Council, Santa Fe.
Berkshire Bridge Loan Investors II Held a Final Close on April 30th With $1 47 Billion of Commitments, Exceeding Its $1 0 Billion Target digitalmedianet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from digitalmedianet.com Daily Mail and Mail on Sunday newspapers.
Catalyst, CalCHA Acquire 2 California Communities for $231M
The partnership will convert nearly 600 units into rent-restricted apartments for middle-income households. Apr302021
Image courtesy of Catalyst Housing Group
Catalyst Housing Group, in partnership with California Community Housing Agency (CalCHA), has continued its plans to bring more middle-income units to California following the acquisition of two communities.
Catalyst acquired Aster in Dublin, Calif., for $163 million and Mira Vista Hills in Antioch, Calif., for $68 million.
Jordan Moss, founder of Catalyst, told
Multi-Housing News that the company acquired the 92 percent-occupied Aster from Bay West Development and Berkshire Residential Investments, while the 96 percent-occupied Mira Vista Hills was purchased from Reliant Group.
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