Houston Firm Raises $250M Fund for Multifamily Development
A Houston-based investment manager focused on multifamily development raised hundreds of millions of dollars for its second fund. Marble Capital LP closed its second fund at $250 million, exceeding the fund's initial target of $150 million, according to a Dec. 18 press release. Marble Capital's first fund closed two years ago at $100 million. Marble Capital primarily provides preferred equity to experienced developers in U.S. growth markets, the release notes. Marble Capital's second fund aims to provide between $5 million and $20 million in capital for each project. The fund has already closed or committed to 16 projects valued at $160 million, and the firm expects to deploy the remaining capital in 2020...