Citymark Capital Reaches $150 Million Target for Second Multifamily Investment Fund

CLEVELAND - Aug. 24, 2020 - PRLog -- Real estate investment firm and fund manager Citymark Capital has successfully reached the fundraising target of $150 million for its second fund, Citymark Capital U.S. Apartment Fund II ("Fund II").

Citymark's platform provides joint venture equity for value-add, multifamily investments, executed by experienced regional and national operating partners. The firm targets institutional-quality, garden-style communities ranging in size from 100-400 units, in the Top 50 U.S. markets based on population. Total acquisition costs typically range between $40 million and $100 million.

Citymark launched Fund II in 2018 and secured commitments from 100% of institutional investors from its debut fund. "We are grateful to our investors for their trust and confidence in our strategy," said Citymark Chief Executive Office Daniel Walsh. "Their support underscores our belief in the consistent performance of institutional quality multifamily investments through different economic environments, including market disruptions."

Fund II's current portfolio includes six multifamily communities.  The assets, ranging in size from 120 units to 408 units, are located in Las Vegas, Dallas, Houston, Atlanta and Raleigh.

Citymark Capital's $80 million debut fund closed in 2017 with diverse support from pension funds, insurance companies, high-net-worth individuals and family offices.  In 2018 the Fund was fully invested in six assets located in Atlanta, Orlando, Phoenix, Dallas, New York and Las Vegas.  Citymark has exited four of the fund's six investments, with plans to exit the remaining assets in the near future.

For further information on Citymark Capital, visit http://www.citymarkcapital.com or contact Matt Porath at 216-453-8087 or Dana Banda at 216-453-8088.