Belveron Partners, a real estate investment management firm specializing in affordable housing and based in San Francisco, has successfully closed its seventh fund – Flagship Fund VII – with $354 million in capital commitments. This exceeds the initial target of $350 million and marks the largest fund raised by Belveron to date. The company has already invested around $120 million of equity into nine projects located in high-growth areas of California and Texas.
The success of this latest fund can be attributed to a diverse group of new institutional partners who have joined as investors. These include a sovereign wealth fund, pension funds, university endowments, family offices, and outsourced chief investment officers (CIOs). Since its establishment, Belveron has organized seven discretionary funds along with several joint venture vehicles that have collectively received over $1.2 billion in capital commitments.
Founder & Managing Partner Paul Odland expressed his gratitude for the continued support from long-time investors while also welcoming new institutional thought partners to Fund VII. He believes that this confidence is a testament to Belveron’s ability to expand its capital base and build upon their track record as yield-focused affordable housing investors within this specialized segment of the real estate market.
