Carmel racks up over $1.58bn for eighth real estate fund

Carmel Partners Investment Fund 8's investors include U.S. and international pension funds, endowments, foundations, insurance companies and select high-net worth individuals and family offices.

  • Carmel has successfully raised over $7 billion since the inception of its fund series in 2003
  • Carmel was founded in 1996
  • Carmel is focused on multifamily investments in supply-constrained, high barrier-to-entry U.S. markets

Carmel Partners has closed its eighth real estate fund at $1.58 billion, beating its $1.5 billion target.

Carmel Partners Investment Fund 8’s investors include U.S. and international pension funds, endowments, foundations, insurance companies and select high net worth individuals and family offices.

Carmel has successfully raised over $7 billion since the inception of its fund series in 2003.

On the fundraising, Ron Zeff, founder and CEO of Carmel Partners, said in a statement, “We are grateful for the continued support of existing investors and welcome our new investors, and we value the trust they place in us to invest on their behalf. We believe that the wide-ranging expertise Carmel has developed through decades of investing in acquisitions, renovations, ground-up projects as an owner/builder and real estate debt instruments, will enable us to find compelling investments in any market cycle.”

Carmel was founded in 1996. Since its founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, more than 50,000 apartment units and has made 22 debt investments with a combined estimated gross value of more than $19.5 billion.

Carmel is focused on multifamily investments in supply-constrained, high barrier-to-entry U.S. markets including Northern and Southern California, Boston, Denver, Hawaii, New York, Seattle and Washington, D.C.