The Meridian Group, which invests exclusively in the Washington, D.C., market, has closed its second fund, Meridian Realty Partners II LP, with $231.6 million raised from institutional investors.
Meridian said it also raised and invested an additional $80 million of co-investment capital in Fund II transactions to date.
The Bethesda, Md.-based real estate and development firm said it expects to acquire properties totaling more than $1.5 billion for its new fund over the next several years.
“These deals fit our value-add investment strategy very well, and we continue to be bullish on the D.C. real estate market,” David Cheek, Meridian’s president, said in a statement.
