CityView Raises $55 Million to Buy Apartments in U.S. Southwest

CityView, the real estate investment firm founded by Henry Cisneros, raised $55 million from three teacher pension funds to buy and renovate apartment buildings in the U.S. Southwest.

An initial fundraising round was completed today, Cisneros, former secretary of the U.S. Department of Housing and Urban Development and executive chairman of Los Angeles-based CityView, said in a telephone interview. The fund has about $165 million including debt, which will be used to acquire and improve existing multifamily buildings in Texas and Colorado, states with strong energy employment, and Arizona, where jobs have increased for four straight months, he said.