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Real Estate

Berkshire Multifamily Debt Fund II raises $1.25 billion

Berkshire Group closed real estate fund Berkshire Multifamily Debt Fund II at $1.25 billion, according to a news release.

The fund will mostly invest in Freddie Mac's multifamily executions, which are bundles of apartment loans that Freddie Mac is selling off to investors. The fund will also invest on an opportunistic basis in other debt assets secured by multifamily properties such as mezzanine debt and discounted notes.

Investors in the fund include the $72 billion Massachusetts Pension Reserves Investment Management Board, Boston, and $34 billion Texas Permanent School Fund, Austin.

John Dobroski, Berkshire spokesman could not be reached for additional information.