Highland Real Estate Raises $18M in Fund II First Close

Highland Real Estate Partners has captured $18M in initial limited partner commitments in the first close of its Highland SMF Opportunities II strategy, bringing it nearly 75% to its final close target of $25M.

According to an October 8 press release, the fund is the second of Highland’s “Small Multifamily Fund” (SMF) series that specializes in opportunities for under-the-radar multifamily asset acquisitions in Midwest and Mountain West markets. Highland said it is expecting to close two purchase deals in Salt Lake City in the fourth quarter, but is still building a portfolio for the strategy, which has a target final close of April 1, 2025.

Per Highland data, the SMF series has collected over $275M in total assets with the addition of initial commitments to Fund II from new and existing limited partners.

View the press release here: https://www.businesswire.com/news/home/20241008221289/en/Highland-Real-Estate-Partners-Announces-the-First-Close-of-the-Firm%E2%80%99s-Second-U.S.-Real-Estate-Fund