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Waterton Associates Closes $500M Multifamily Fund


Private equity firm Waterton Associates' latest multifamily investment fund closed above target at $511M, the company reported today.

Venture XII includes many new investors as well as existing investors, reflecting confidence in Waterton's track record in the past 20 years, says co-founder and CEO David Schwartz, whom we snapped at a past Bisnow event. 

Waterton Residential Property Venture XII was targeting $500M in investor commitments to pursue a value-add strategy for purchasing multifamily properties in the top 12 to 15 US markets. It follows Venture XI, which closed in 2011 with $500M in commitments, says Chicago-based Waterton. New York-based Park Madison Partners worked as placement agent on both offerings.

The company has made multifamily investments going back to 1995. In recent years, Waterton also has expanded into hotels, creating Ultima Hospitality in 2010 to manage that aspect of the business.