Bridge Investment Group has raised $2.26bn (β¬2.1bn) for its latest value-add US multifamily real estate fund.
The manager said the Bridge Multifamily Fund V has an investment strategy focused primarily on value-add, βClass B multifamily housing properties in high-growth markets with strong macro-economic prospectsβ.
Jonathan Slager, CEO of Bridge Investment Group, said: βWe believe the multifamily market will continue to experience positive secular macroeconomic conditions for the foreseeable future, and we are excited to deploy the capital raised in Multifamily Fund V at what we view as an attractive point in the cycle.
Colin Apple, Co-CIO for Bridgeβs multifamily strategy, said: βMarket demand for well-amenitised and affordable multifamily housing is projected to outpace supply, despite high unit deliveries expected over the next two years.
βOur multifamily strategy has delivered strong performance for more than a decade, and we look forward to utilizing our purpose-built platform to thoughtfully deploy capital and have a positive impact in todayβs residential rental market.β
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