NAIOP San Francisco Bay Area Chapter hosted its 7th annual Best of the Bay Awards on February 13, 2019. Carmel's Fourth Street East project in Oakland, CA won for 2018 Multifamily Deal of the Year. Congratulations to our Nor Cal Development Team on this impressive achievement!
Check out the incredible progress on our Cumulus project in Culver City! This new development is located on a 11.19-acre site that provides easy access to light rail. Cumulus is comprised of a 7-story podium building and a 30-story high rise, as well as 100,000 square feet of retail.
Ever wonder what it’s really like to work on a project of this size?
Well, take a look at our opportunities on http://glassdoor.com/slink.htm?key=vQoUS
We are excited to announce the final closing of our Investment Fund VII at $1.28 Billion!!!
Fund 7 had its first close in August 2018, exceeded its target size in October, achieved its hard cap and was oversubscribed with the final close in December 2018.
At $1.28 billion, Fund 7 is Carmel’s largest fund to date enabling select new investors to join Carmel’s existing LPs. More than 40 existing and new investors participated in Fund 7, including investors from Asia and Europe as well as the United States. Carmel has successfully raised almost
$5.5 billion since inception of the fund series in 2004. Carmel focuses exclusively on multifamily investments, including development, renovation and debt in relatively supply-constrained, high barrier-to-entry U.S. markets including the metro areas of the San Francisco Bay Area, Southern California, New York, Seattle, Denver, Washington, D.C. and Honolulu.
Ron Zeff, Founder and CEO of Carmel Partners, said, “We greatly appreciate the support of our investors as we announce the successful closing of Fund 7. Through our vertically integrated plat
Members of our Construction and Development teams at the annual year-end offsite #winetasting
19Dutch is here! Leasing was launched today on Carmel’s magnificent 483-unit property in Manhattan's Financial District. Congratulations to all of our teams that have worked so hard to make this happen.
Some of our Nor Cal summer interns went on a property tour of Aventine, Vintage, and Jack London Square on June 8th. It was a wonderful opportunity for them to see a project currently under construction and two which have been completed and are being leased. Our interns especially enjoyed the Jack London Square project tour and learning more about the creativity and detail that went into the planning and development process.
Congratulations to Nick Teshima on joining us as our Capital Finance Intern for Summer 2018. Nick is currently pursuing a double major in Business Administration and Economics from the Haas School of Business at University of California, Berkeley, and will be working closely with the Capital Finance team on debt financing and loan management, as well as conducting research and working on special projects. Welcome to Carmel, Nick!
Congratulations to Miguel Sanchez on joining us as one of our Northern California Project Engineer Intern. Miguel will be working closely with our 1314 Franklin Project team in Oakland, CA. Welcome to Carmel, Miguel!
Congratulations to Kellee Kim on joining us as our MBA Summer Intern. For Carmel, Kellee will be working closely with the Asset Team on projects that support all asset management activities, including portfolio and property- level research, reviewing and analyzing financial performance of assets, researching market conditions, and other real estate related projects. Welcome to Carmel, Kellee!
Aerial view of our 1314 Franklin project in Oakland shows the drill rig being put together, and mobilization for deep foundations is currently taking place. Exciting times ahead!