Carmel Partners Closes Fund 9 at $1.35 Billion

SAN FRANCISCO, April 7, 2026 /PRNewswire/ -- Carmel Partners ("Carmel") announced today the final close of Carmel Partners Investment Fund 9, its U.S. multifamily real estate value creation fund. Fund 9 successfully closed at $1.35 billion and has already acquired nine operating assets.

Investors include U.S. and international pension funds, endowments, foundations, select family offices and high-net worth managers. Carmel has successfully raised over $8.5 billion since the inception of its Fund series in 2003.

Carmel has a vertically-integrated platform, including a 5-person Data Science & Research team which provides proprietary rent growth forecasts. Carmel focuses on multifamily investments primarily in supply-constrained, high barrier-to-entry U.S. markets including Northern and Southern California, Boston, Denver, Hawaii, New York, Seattle and Washington, D.C. It has the ability to invest in existing operating assets, development projects and opportunistically, debt.

Ron Zeff, Founder and CEO of Carmel Partners, said, "We are grateful for the continued support of existing investors and welcome our new investors. We value the trust they place in us to invest on their behalf. Fund 9 has a well seeded portfolio with $477 million in committed equity and is deploying into what we believe is the most attractive multifamily opportunity set that the Firm has seen in almost 30 years of investing."

About Carmel Partners
Founded in 1996, Carmel is one of the nation's leading specialists in real estate investment management, focusing on U.S. multifamily renovation, development and debt investments. Through its vertically integrated platform, Carmel seeks to achieve superior risk-adjusted returns across varying market cycles by investing in relatively supply-constrained, high barrier-to-entry markets in the United States. Since its founding, Carmel has bought and renovated or developed, or is in the process of renovating or developing, over 57,000 apartment units with a combined estimated Gross Value of $23.7 billion and has made 22 debt investments.

Carmel has offices in San Francisco, Denver, Los Angeles, New York, Seattle and Washington, D.C. For more information, please visit www.carmelpartners.com.

Media Contacts:

LLYC

Jennifer Hurson, 845-729-3100, [email protected]
Joanne Lessner, 212-222-7436, [email protected]

SOURCE Carmel Partners