Alpaca Real Estate Closes Inaugural $223M Tech-Driven Fund
Alpaca Real Estate has closed its inaugural private equity real estate fund with approximately $223 million in total capital commitments, including about $21 million in co-investments completed to date.
The final close of Alpaca Real Estate Fund came approximately 18 months after its initial close. The firm expects to deploy more than $300 million of equity through the fund and related co-investment vehicles during the investment period, supporting nearly $1 billion in real estate assets under management.
The fund focuses on thematic acquisition and development opportunities in infill industrial properties and high-density residential real estate. Alpaca combines that strategy with a proprietary sourcing platform and technology-driven investment processes.
The firm has established positions across three strategies: infill industrial logistics, high-density multifamily townhomes and multifamily preferred equity. Investments target supply-constrained urban and suburban locations in major U.S. markets, with portfolio activity to date in Dallas, New York City, Nashville and Atlanta.
Alpaca also uses artificial intelligence across its investment and asset management platform, building on data infrastructure developed before the technology’s widespread adoption in real estate.
“Prioritizing a foundation of data integrity from inception, well before AI became a strategic imperative for the industry, has allowed us to overlay agentic AI across investment underwriting, portfolio monitoring and asset management workflows,” said Daniel Carr, co-founder and managing partner of Alpaca Real Estate.
The fund received commitments from a broad group of institutional and private investors, including public pension plans, registered investment advisers, wealth management firms, foundations, family offices and international investment managers.
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