Belveron Partners, a real estate investment management firm based in San Francisco, has successfully closed its seventh fund, Flagship Fund VII. The fund exceeded its target size of $350 million and raised a total of $354 million in capital commitments. This marks the largest fund ever raised by Belveron.
So far, Fund VII has invested approximately $120 million in nine different properties located in high-growth areas of California and Texas. These investments align with Belveron’s focus on affordable housing.
The success of this latest fund can be attributed to the diverse group of new institutional partners that have joined as investors. These include a sovereign wealth fund, pension funds, university endowments, family offices and outsourced CIOs.
Since its inception, Belveron has organized seven discretionary funds along with several joint venture vehicles that have received over $1.2 billion in capital commitments.
Founder and Managing Partner Paul Odland expressed his gratitude for the continued support from long-time investors as well as excitement for welcoming new institutional thought partners to Fund VII. He also highlighted how this achievement reflects Belveron’s ability to expand their capital base while maintaining their track record of successful investments focused on generating yields within the affordable housing market segment.
