Berkshire Residential Investments Announced Berkshire Value Fund V, L.P. and Fund V Co-Investment Vehicles Closed in Q4 2021

Equity Commitments Totaled $1.35 Billion

BOSTON--(BUSINESS WIRE)--On October 29, 2021, Berkshire Residential Investments announced the final close of Berkshire Value Fund V, L.P. (“Fund V” or “The Fund”) and Co-Investment Vehicles with total equity commitments closed of $981.0 million. The closed commitments include $550 million of Fund V commitments and $431 million of co-investment commitments. Berkshire raised an additional $370 million for future Fund V co-investment opportunities, bringing total commitments raised to $1.35 billion. Fund V is Berkshire’s fifth flagship value fund and largest equity fund to date. The Fund reached its hard cap and was oversubscribed.

The Fund intends to construct a portfolio of high-quality, well-located multifamily investments across the United States. The Fund’s primary focus is acquiring Class A and Class B apartment communities below replacement cost in major U.S. markets. In addition, the Fund will seek to identify investment opportunities in niche residential sectors and special situations that could arise from inefficiencies and disruption in the U.S. housing markets. The Fund seeks to implement value-enhancing strategies to produce durable cash flows with future growth potential by leveraging Berkshire’s national investment and operating platform. Throughout the evolution of the Berkshire Value Fund series, the company has utilized an entrepreneurial approach in identifying opportunities and tailoring strategies as market conditions change.

“Berkshire is an owner-operator with exclusive sourcing channels fostered from both our debt and equity relationships”, noted Jon Frey, Managing Director, Head of Portfolio Management. “Our ability to creatively source investments and drive operating efficiencies and property improvements assists in the generation of alpha,” he continued.

About Berkshire Residential Investments

Berkshire Residential Investments is a vertically integrated residential real estate investment and property management company with over 55 years of experience. Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge investment strategies, and hands-on development and operational experience. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, Dallas and San Francisco. As of June 30, 2021, Berkshire had approximately $13.6 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshireresi.com.