### Fairfield Closes Its Largest Value-Add Fund to Date
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 its initial $1-billion target and marking its largest value-add fund to date. By 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.”
Fund IV’s investment strategy centers on acquiring value-add multifamily assets in more than 30 major metro areas across the country. To date, approximately $385 million of equity has been deployed across 16 assets.
