Sares Regis has held the final close of the Sares Regis Multifamily Value-Add Fund III raising over USD328 million in total equity commitments. Utilising leverage, the Fund will seek to acquire approximately USD1 billion of assets in its target markets.
Launches & Fundraising
BMO Real Estate Partners (BMO REP), a pan-European property investment and asset management specialist that is part of Canada’s BMO Financial Group’s GBP216 billion Global Asset Management business, has held the first close for its newly developed UK housing strategy.
Asset and property manager GPEP has teamed with Hamburg-based HansaInvest Hanseatische Investment to launch an institutional fund for discount stores, supermarkets, retail centres and retail parks.
AMP Capital has closed its Global Infrastructure Fund II (GIF II) at US$3.4bn. The fund reached final close on 27 December 2019, exceeding its US$3bn target and drawing additional significant co-investment commitments.
Värde Partners, a global alternative investment firm, has raised its 13th flagship vehicle, Värde Fund XIII, with USD2.47 billion in commitments.
Capital Square, a sponsor of tax-advantaged real estate investments, has launched a new qualified opportunity zone fund. CSRA Opportunity Zone Fund II, is a project-specific opportunity zone fund that is raising capital to develop Scott's Collection II, a 60-unit, mixed-use multifamily property in the Scott's Addition designated opportunity zone in Richmond, Virginia.
Prologis has expanded its development venture in China and increased its development capacity to more than USD3.5 billion. Prologis also announced the formation of its new USD1.7 billion open-ended Prologis China Core Logistics Fund (PCCLF).
Long Harbour, a real estate and asset-backed investment manager, has launched its European Ground Lease Fund, a new vehicle that will invest in ground leases on residential and commercial real estate assets across Europe.
Property investor Patron Capital has launched the world’s first “gender-lens” property fund to support women who are experiencing or are at risk of homelessness.
PATRIZIA has launched the PATRIZIA Living Cities Residential Fund (Living Cities), an open-ended fund with a core strategy which currently has EUR650 million of seed assets and is expected to grow to over EUR1 billion in assets next year.