Hillpointe, LLC, has closed the Hillpointe Workforce Housing Partnership IV, LP fund at its hard cap of $510 million.
Fund IV exceeded its $500 million target and allows for the development of the next 25 to 30 workforce housing projects in Hillpointe’s pipeline. These represent approximately $1.4 billion of total asset value and 8,000 units across the Sun Belt.
“Fund IV was oversubscribed, surpassing its initial fundraising target, and has garnered tremendous support from both new and existing investors,” commented Jeff Goll, managing director and head of capital markets. “We believe the successful raise underscores institutional capital’s strengthening demand for workforce housing and continued confidence in Hillpointe’s development and construction expertise. We are grateful for the continued trust that our investors have placed in us, and we remain highly committed to delivering outstanding results.”
Greenberg Traurig, P.A. is legal counsel, and Juniper Square is fund administrator.
Hillpointe Workforce Housing Fund Raises $510M
Hillpointe Workforce Housing Fund Raises $510M
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Hillpointe, LLC, has closed the Hillpointe Workforce Housing Partnership IV, LP fund at its hard cap of $510 million.
Fund IV exceeded its $500 million target and allows for the development of the next 25 to 30 workforce housing projects in Hillpointe’s pipeline. These represent approximately $1.4 billion of total asset value and 8,000 units across the Sun Belt.
“Fund IV was oversubscribed, surpassing its initial fundraising target, and has garnered tremendous support from both new and existing investors,” commented Jeff Goll, managing director and head of capital markets. “We believe the successful raise underscores institutional capital’s strengthening demand for workforce housing and continued confidence in Hillpointe’s development and construction expertise. We are grateful for the continued trust that our investors have placed in us, and we remain highly committed to delivering outstanding results.”
Greenberg Traurig, P.A. is legal counsel, and Juniper Square is fund administrator.
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