Marble Capital is pleased to announce the successful closing of Marble Capital Fund III (‘The Fund”) with over $650 million in commitments. The Fund was significantly oversubscribed based on its initial target of $350 million having received unprecedented support from both new and existing investors.
Consistent with the company’s strategy since inception, the Fund is focused primarily on making preferred equity investments in multifamily developments across the country. To date, the Fund has already closed on or committed to $590 million of investments in high-growth Sunbelt markets where demand for housing is growing.
“We are extremely pleased with the overwhelming support provided by our investor base,” stated Adam Allen, Co-Founder and Managing Principal at Marble Capital. “We believe that the severe shortage of housing across the country has created a unique opportunity to capitalize on despite the headwinds of a global pandemic.”
Added Co-Founder and Managing Principal David Oelfke, “Multifamily has held up remarkably well through the pandemic as it did in previous downturns. With the prospect of inflation in front of us, we believe real estate serves as an excellent hedge and investment safe haven.”
Since inception in 2016, Marble Capital has raised over $1 billion of commitments across three funds.
Holland & Knight, LLP served as outside fund counsel for the Fund.