StoneRiver is pleased to announce the initial equity closing for the StoneRiver GP Fund (the “GP Fund”). StoneRiver formed the GP Fund to provide investors the opportunity to invest GP equity alongside StoneRiver in Class-A Southeastern multifamily developments, with the potential to enhance investment returns by sharing in GP economics.
Dan Fuchs, who joined StoneRiver as Executive Vice President of Development in 2024, and his team have developed a robust pipeline of executable development opportunities throughout the Southeast that align with the GP Fund’s investment strategy. Two GP Fund developments – located in the Savannah, Georgia, and Charleston, South Carolina, markets – are expected to break ground by the end of 2025.
”With the recent steep decline in multifamily development activity, we are entering an opportune point in the cycle to begin new developments for delivery over the next few years. Raising a dedicated GP Fund allows StoneRiver to capitalize on this timing and actively pursue and close development opportunities.
Dan FuchsStoneRiver’s Executive Vice President of Development
StoneRiver recently held an initial closing for StoneRiver Investment Fund III (“Fund III”), raising $81.8 million. Fund III is seeking to raise $200 million to $300 million and will acquire and develop garden-style multifamily communities throughout the Southeast. Fund III and the GP Fund may co-invest in developments that meet both funds’ investment criteria.
”The GP Fund strengthens our development platform and complements our acquisition, construction management, and property management capabilities. Under Dan’s leadership, our development team is responding to demand from our growing investor base and bolstering StoneRiver’s presence in our Southeast target markets.
Joseph WeldenStoneRiver’s President & Chief Investment Officer
