Fairfield, a San Diego-based company, has successfully closed its Fairfield U.S. Multifamily Value Add Fund IV LP, raising $1.47 billion in equity commitments. This includes $350 million of co-investment equity, surpassing its initial target of $1 billion. This latest fund is Fairfield’s largest value-add fund to date. In comparison, Fairfield’s Value Add Fund III raised around $1 billion in equity.
“In a tough fundraise environment, we are excited both with the result of our capital raise and with the confidence and trust that we have received from investors and consultants,” said Richard Boynton, CEO of Fairfield. He further added, “Having the capital committed and available to invest will allow us to pursue the attractive buying opportunities that we expect to see at an exciting point in the multifamily investment cycle.”
Fund IV’s investment strategy will primarily focus on acquiring value-add multifamily assets in more than 30 major metro areas across the United States. To date, approximately $385 million of equity has already been deployed in 16 assets.
1 Comment
I never realized the potential in value-add funds until I read this post. It’s fascinating to see how Fairfield’s fund has shattered expectations and achieved such remarkable financial success. I’m curious to learn more about their investment strategy and how they were able to achieve those results.