Bridge Investment Group has raised $2.26bn (€2.1bn) for its latest value-add US multifamily real estate fund.

The manager said the Bridge Multifamily Fund V has an investment strategy focused primarily on value-add, “Class B multifamily housing properties in high-growth markets with strong macro-economic prospects”.

Jonathan Slager, CEO of Bridge Investment Group, said: “We believe the multifamily market will continue to experience positive secular macroeconomic conditions for the foreseeable future, and we are excited to deploy the capital raised in Multifamily Fund V at what we view as an attractive point in the cycle.

Colin Apple, Co-CIO for Bridge’s multifamily strategy, said: “Market demand for well-amenitised and affordable multifamily housing is projected to outpace supply, despite high unit deliveries expected over the next two years.

“Our multifamily strategy has delivered strong performance for more than a decade, and we look forward to utilizing our purpose-built platform to thoughtfully deploy capital and have a positive impact in today’s residential rental market.”

To read the latest edition of the latest IPE Real Assets magazine click here.