Hillpointe, LLC has successfully closed the Hillpointe Workforce Housing Partnership IV, LP fund at its hard cap of $510 million. This exceeds the initial fundraising target of $500 million and allows for the development of 25 to 30 workforce housing projects in Hillpointe’s pipeline. These projects are estimated to have a total asset value of approximately $1.4 billion and 8,000 units across the Sun Belt region.
Jeff Goll, managing director and head of capital markets commented on this successful raise: “We believe that it underscores institutional capital’s strengthening demand for workforce housing as well as their confidence in our development and construction expertise.” He continued by expressing his gratitude towards investors who placed trust in them: “We remain highly committed to delivering outstanding results.”
Greenberg Traurig P.A is legal counsel while Juniper Square serves as fund administrator for this project.
