PTM Partners Closes $150 Million OZ Fund

Florida-based PTM Partners announced that it closed its second OZ fund on December 31, 2022 with $150 million of equity investment. PTM Partners previously raised approximately $100 million in its first OZ fund, which closed in 2019.

Between its two OZ funds, PTM Partners has a number of projects underway:

  • Mixed-use development in Edgewater, Miami with two high-rise towers and more than 850 rental units;
  • Another multi-family development in Edgewater, Miami with 420 units;
  • 318-unit multi-family development on the Occoquan River in Woodbridge, Virginia;
  • 360-unit rental development in Downtown Miami;
  • 453-home mixed-use rental community located in the Buzzard Point neighborhood of Washington D.C.;
  • 1.5 acre-mixed use development anchored by a 163-key Marriott Moxy in St. Petersburg, Florida;

“When we launched Fund II in late 2020, we wanted to continue our company’s mission to deliver and foster sustainable and inclusionary projects that generate positive returns not just for our investors and partners, but also for the surrounding community and its stakeholders,” said Michael Tillman, Co-Founder and Chief Executive Officer of PTM.