Empira Group, the €9bn AUM Swiss-based real estate investment company, has raised over $120 mln so far towards a $600 mln (€558 mln) fund target for a US vehicle.
Zug-based Empira first launched EMPIRA Residential Invest US in 2022.
Now it is pushing fundraising until the end of 2025 with a fund duration of 8 years from.
The company has been able to secure three properties so far.
It aims to give investors exposure to a megatrend whereby the US residential market is ‘mutating’ from an ownership market into a rental market.
Such a trend is best exemplified in the Sunbelt states of Florida Texas and Arizona, said Empira, where it has identified a pipeline of over $2 bn for developing multifamily properties.
In a statement, the company said: ‘We are leveraging our existing expertise in develop-to-hold strategies that rely on our vertical integrated platform approach, to execute successfully the strategy by our Empira US team headed by Rafael Aregger.’
Global head of client solutions is Jorge Veiga Juiz (pictured).
The company was founded in Zug in 2014.
