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elveron Partners, a privately held real estate investment management firm focused on affordable housing, has announced the final close of its seventh fund, Flagship Fund VII. The fund exceeded its target size of $350 million, reaching $354 million in capital commitments and becoming the largest raised by Belveron to date.

    The fund welcomes new institutional partners, including a sovereign wealth fund, pension fund, university endowment, family offices, and outsourced CIOs. Since inception, Belveron has organized seven discretionary funds and joint venture vehicles with over $1.2 billion in aggregate capital commitments.

    "We're grateful for the support of our longtime investors and pleased to welcome new partners," said Paul Odland, Founder & Managing Partner. "This confidence reflects our ability to expand our capital base and build on our track record of thoughtful affordable investments."

    Belveron's team has achieved steady growth through their specialized regulatory acumen and private market expertise, enabling productive public-private partnerships. The firm is committed to creating, preserving, and revitalizing affordable housing units, addressing the nation's long-standing affordability crisis.

    To date, Fund VII has committed $120 million of equity to nine affordable housing investments. Belveron seeks value-add returns through creative business strategies in the nuanced affordable housing market. With over 30,000 high-impact affordable homes across 14 states and the District of Columbia, Belveron has established itself as a leader in this segment.