Berkshire Residential closes $1.85bn multifamily debt fund

Berkshire Residential raises $1.85bn for multifamily debt fund

Berkshire Residential Investments has closed Berkshire Multifamily Debt Fund III with $1.85 billion in equity commitments.

The fund will primarily consist of Freddie Mac’s Multifamily Capital Markets Execution B-piece debt investments that are collateralized by high-quality multifamily mortgages throughout the United States.

The fund will also invest opportunistically in other debt assets secured by multifamily properties such as preferred equity, mezzanine debt, B-notes, and discounted notes.

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“The success of Berkshire’s debt fund series reflects continued investor interest and their confidence in our Debt Investments team,” said Jon Pfeil, Managing Director, Head of Debt Investments at Berkshire.

“Berkshire has decades of U.S. housing investment experience, and we will continue to develop both equity and debt products in the sector that meet evolving market trends,” he added.