- What Trez Capital has closed Opportunity Fund 8 with over US$43m of commitments
- Why The fund is part of the firm’s equity program, which has raised more than US$126.9m
- What next TOF 8 will invest in eight to 10 developments
Trez Capital has closed Opportunity Fund 8 with more than US$43m ($61m) of commitments, surpassing its target.
The vehicle invests in residential real estate development projects in the U.S. Sun Belt region, focusing on residential lot development. It targets a net return of 17% to 19% and will comprise eight to 10 developments.
TOF 8 is part of the Toronto-based firm’s equity program, which has raised more than US$126.9m across its opportunity funds.
John Hutchinson, co-chief executive officer and global head of origination at Trez Capital, said: “The housing market in the U.S. Sunbelt continues to outperform, driven by strong demographic trends, a persistent housing shortage and demand for rental housing.”
In November, Trez said the fund made an equity investment in the 549-lot Nobella project in Greater Phoenix.
