Crystal View Capital Closes Fund II
Las Vegas-based private equity real estate firm, Crystal View Capital has closed Crystal View Capital Fund II. Originally targeting $35mn, Fund II increased the offering and closed the total equity raise at just over $56mn..
"Our ability to increase the size of Fund II in the midst of a global pandemic speaks volumes to the resiliency of Manufactured Housing Communities / Self-Storage Facilities and Fund II's ability to create value for our investors," says Matthew Ricciardella, Fund II's acting manager.
Crystal View Capital is already working on Fund III.
"Regardless of the current market environment, we are confident in our investment thesis of buying off-market self-storage and manufactured housing communities and our ability to effectively go to scale while creating significant value due to the fragmented nature of both asset classes. We anticipate launching Fund III within the next 30 days to provide an ongoing vehicle for defensive investors to allocate capital," added Ricciardella.
© The Sortino Group Ltd
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.