Fund IV · Urban Infill
Fund IV · Urban Infill
Urban Infill and Transit-Oriented Development Land
Infill and transit-adjacent land inside established growth cities, where scarcity and density create outsized entitlement value.
$1.770BTarget Fund Size
20–28%Target Net IRR
9%Preferred Return
Strategy
The mandate.
Fund IV acquires and entitles urban infill and transit-oriented development land within established Sun Belt cities. The strategy focuses on parcels near transit stations and employment centers where higher-density, mixed-use entitlements unlock significant value, delivering development-ready sites to vertical developers.
Focus Areas
- Transit-station-adjacent parcels
- Higher-density mixed-use entitlements
- Infill assemblage in core cities
- Vertical developer offtake
Fund Terms
Structure & economics.
| Term | Fund IV |
|---|---|
| Target Fund Size | $1.770B |
| Structure | Delaware limited partnership |
| Preferred Return | 9%, compounded |
| Carried Interest | 20% above the 9% preferred, with 100% GP catch-up |
| GP Commitment | 2% of committed capital |
| Distribution Waterfall | European, whole-fund |
| Minimum LP Commitment | $2,000,000 |
| Target Net IRR | 20–28% |
| Leverage | 40–55% LTV (raw) / 50–60% LTV (entitled) |
| Investment Period | 5 years |
| Fund Term | 10 years, plus two 1-year extensions |
Terms shown are indicative and are qualified in their entirety by the fund's definitive offering documents, available to qualified investors.
Interested in Fund IV?
Request offering materials and speak with our investor relations team.