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Chart of the Week: Multi-Family/Residential-Specific Funds Q1 2013- Q1 2014

Q1 2014 Was a Strong Quarter for Multi-Family/Residential Funds

COW 5-28 411x


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With the recent close of the $2 billion Kildare European Real Estate Fund managed by Kildare Partners, a debt fund that is targeting multi-family/residential investments in Western Europe, PERE Research & Analytics decided to take a deeper look into Multi-Family/Residential-focused funds between Q1 2013 and Q1 2014.

Data from PERE Research & Analytics has revealed that Multi-Family/Residential-focused funds have raised a total of $2.92 billion between Q1 2013 and Q1 2014. These funds have increased consistently each quarter since a dip in Q2 2013, where just $93 million was raised for these sector-specific funds. Q1 2014 represents the largest capital raised for Multi-Family/Residential-focused funds, raising approximately 40% of the total capital raised for the time period. When compared to the same time a year prior, Q1 2014 nearly quadruples the total capital raised in Q1 2013. This difference is due in large part to the CPPIB/Piramal Real Estate Debt Joint Venture managed by Piramal Fund Management, a $500 million joint venture between Piramal and the Canada Pension Plan Investment Board.

Notable Multi-Family/Residential-focused funds in market include the value-added Wolff Real Estate Partners III managed by The Wolff Company and the Multi-Family Value Add Fund II managed by Brookfield Asset Management.