### Fairfield Closes Largest Value-Add Fund to Date with $1.47 Billion
San Diego-based Fairfield has successfully closed its Fairfield U.S. Multifamily Value Add Fund IV LP, securing $1.47 billion in equity commitments. This includes $350 million in co-investment equity, surpassing the initial $1 billion target and marking the firm’s largest value-add fund to date. For comparison, Fairfield’s previous Value Add Fund III raised approximately $1 billion in equity.
“In a tough fundraising environment, we are excited both with the result of our capital raise and with the confidence and trust that we have received from investors and consultants,” said Richard Boynton, CEO of Fairfield. “Having the capital committed and available to invest will allow us to pursue the attractive buying opportunities that we expect to see at an exciting point in the multifamily investment cycle.”
The investment strategy for Fund IV will focus on acquiring value-add multifamily assets across more than 30 major metropolitan areas nationwide. To date, approximately $385 million of equity has already been deployed across 16 assets.
