Henderson Global Investors has acquired The Pointe at Chapel Hill Apartment Homes for USD25,425,000 on behalf of its multi-family fund, Casa Partners IV. 

The Pointe at Chapel Hill is a 240-unit class A apartment complex located in Chapel Hill, North Carolina. 

This is the fund’s 12th acquisition and the second to occur in July this year. Casa IV purchased The Pointe on 28 July, six days after it purchased the 424-unit tax exempt bond financed Southview Gables apartments in St. Paul, Minnesota for USD40.5m. 

Henderson recently announced the launch of the next fund in the series, Casa Partners V, which will target a USD400m total equity raise, representing up to a USD1.1bn portfolio. Casa V is projected to be the largest fund in Henderson’s multi-family Casa fund series to date. Casa V will target an initial equity raise of at least USD100m by the end of this year.

Sue Motowidlak, co-portfolio manager for Casa IV and V, says: “Henderson is very pleased to have acquired The Pointe at Chapel Hill Apartments. The investment is clearly aligned with the strategy for Henderson’s Casa fund series. The Pointe is a quality asset located in one of Henderson’s stronger target markets. It is exciting to be able to finish out the last few investments in the fund with an asset of this quality. We also now have the ability to launch Casa V and continue this successful programme on behalf of our investors.”

Casa IV has raised USD205m in equity from US institutional investors, including four public pension funds and one corporate pension plan.

The final acquisition for Casa IV is anticipated to close by the end of this quarter.