Berkshire Residential Investments to Acquire Full Ownership of MF1, the Leading Private-Label Multifamily Mortgage Lender
Berkshire Residential Investments (“Berkshire”) today announced that it has entered into a definitive agreement to acquire Limekiln Real Estate Investment Management, LP’s (“Limekiln”) 50% interest in MF1 Process LLC (“MF1”), making Berkshire the sole owner of MF1. Upon closing, MF1 will operate as a wholly-owned subsidiary of Berkshire. MF1 is the leading private-label multifamily mortgage lender, having originated multifamily loans aggregating $32 billion since 2018. MF1 has also been a leading issuer of commercial real estate collateralized loan obligations (“CRE CLOs”). MF1 was launched in 2018 as a 50/50 joint venture between Limekiln founder Scott Waynebern and Berkshire.
Berkshire Residential Investments Expands Equity Portfolio Management Team
Berkshire Residential Investments announced that Steve Gullo has joined the firm as Managing Director of Portfolio Management. Based in the Firm’s Boston headquarters, Steve brings over 23 years of residential investment management experience. Steve will assist in the development, execution, and investment management of Berkshire’s flagship Value Fund Series. In this position, he will work closely with research, the investments team, asset managers, the property management team, and other functional groups. Steve will report to John Lamb, Partner and Head of Portfolio Management.
Berkshire Residential Investments Appoints New Head of Portfolio Management
Berkshire Residential Investments announced that John Lamb has joined the company as Managing Director and Head of Portfolio Management. Based in the firm’s Boston headquarters, John will be responsible for the execution, management, and investment performance of the firm’s equity strategies, which focus on making investments across the U.S. residential housing spectrum. In this position, John will work in close collaboration with portfolio managers, the investments team, asset managers and other functional groups to drive strong investment performance and continue to expand Berkshire’s equity platform. He will also be a member of the firm’s Investment Committee. John will report to Jon Frey, Partner and Chief Operating Officer.
Berkshire Residential Investments Announced Berkshire Value Fund V, L.P. and Fund V Co-Investment Vehicles Closed in Q4 2021
On October 29, 2021, Berkshire Residential Investments announced the final close of Berkshire Value Fund V, L.P. (“Fund V” or “The Fund”) and Co-Investment Vehicles with total equity commitments closed of $981.0 million. The closed commitments include $550 million of Fund V commitments and $431 million of co-investment commitments. Berkshire raised an additional $370 million for future Fund V co-investment opportunities, bringing total commitments raised to $1.35 billion. Fund V is Berkshire’s fifth flagship value fund and largest equity fund to date. The Fund reached its hard cap and was oversubscribed.
Berkshire Residential Investments Announced Berkshire Multifamily Debt Fund III Closed in Q3 2021
Berkshire Residential Investments announced the final close of Berkshire Multifamily Debt Fund III with equity commitments totaling $1.85 billion.
Berkshire Bridge Loan Investors II Held a Final Close on April 30th With $1.47 Billion of Commitments, Exceeding Its $1.0 Billion Target
Berkshire Residential Investments announced it successfully raised its largest debt fund to date with a final close for Berkshire Bridge Loan Investors II on April 30, 2021. The $1.47 billion fund includes commitments from nearly 60 institutional clients around the globe and is comprised of both new and existing client relationships for the firm.
