SAN FRANCISCO, CA - From Globe St., update on Carmel Partners (San Francisco) value creation fund: Carmel Partners reports the final close of its US multifamily real estate value creation fund, Carmel Partners Investment Fund VI. The fund closed at $1.025 billion, exceeding its target of $1 billion. With the closing of Fund VI, Carmel Partners has successfully raised $4.2 billion since inception of the fund series in 2004.
Fund VI has already made its first investment in Oakland. Carmel will develop a full block-sized site located in the center of the evolving downtown area, convenient to jobs and public transportation.
More than 35 existing and new investors participated in Fund VI, including several European investors. Carmel Partners focuses on multifamily investments, including property development and construction in supply-constrained high barrier-to-entry US markets.