Bay Area apartment developer raises $1.28 billion

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San Francisco-based apartment developer Carmel Partners raised $1.28 billion for its Fund 7. The developer, founded in 1996, has built or renovated thousands of apartments in the Bay Area, including the 330-unit Fourth Street East in Oakland that is now leasing up, and is building the tallest residential tower in Oakland at 1314 Franklin St. “Through our vertically integrated platform, we will continue to pursue a multifamily value-creation strategy in our target markets,” said Ron Zeff,...

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