$150 Million Fund Will Invest in Multifamily Projects on West Coast and other Select Western, Southwestern Urban Markets
LOS ANGELES – Aug. 15, 2016 – CityView, an investment management and development firm focused on urban multifamily real estate in the Western and Southwestern United States, announced today that it has officially closed CityView Western Fund I, L.P., a $150 million equity fund that will invest in multifamily housing in select markets. CityView will focus the fund on creating new multifamily housing developments and renovating existing buildings.
“We are very pleased to have closed this fund as it enables us to build on our experience in the Western and Southwestern U.S. and gives us the ability to put an additional $400 million to work as we continue to take advantage of opportunities in supply constrained markets,” said Sean Burton, CEO of CityView. “These urban markets are experiencing strong population and job growth, making this an ideal time to bring new multifamily inventory to the market. Much of this opportunity is due to the demand of Millennials, who are now entering their prime earning and spending years. They are renting for longer, and they want apartments that put them in close proximity to jobs, shopping and entertainment.”
Currently, CityView manages over $1.2 billion in real estate assets in major metropolitan areas west of the Mississippi. The firm oversees multiple funds and separate accounts and has 14 active developments in prime coastal California markets.
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CityView is a premier developer and investment management firm focused on urban residential real estate in the Western and Southwestern United States. CityView targets multifamily housing ventures in metropolitan markets which are often overlooked due to the complexity of the transaction and other development challenges. At the center of the firm’s success is its strong professional team which possesses unparalleled expertise in real estate, development operations and finance. CityView’s investors include some of the largest and most sophisticated public pension plans and financial institutions in the country.
CityView was founded in 2003 and is headquartered in Los Angeles. The firm has regional offices in San Francisco and San Antonio, Texas. For more information, please see www.cityview.com.