Berkshire Residential Investments announced the final close of Berkshire Multifamily Debt Fund III with equity commitments totaling $1.85 billion.
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.
"The success of Berkshire's debt fund series reflects continued investor interest and their confidence in our Debt Investments team," noted 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."
About Berkshire Residential Investments
Berkshire Residential Investments is a vertically integrated residential real estate investment and property management company with over 50 years of experience. Berkshire's team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge investment strategies, and hands-on development and operational experience. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, Dallas and San Francisco. As of March 31, 2021, Berkshire had approximately $12.1 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshireresi.com.