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ACORE Capital Closes CRE Debt Fund with $556M Raised
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ACORE Capital, LP held the final closing of ACORE Credit IV, the firm’s first discretionary commingled real estate debt fund. The fund raised a total of $556 million, with a focus on originating and managing transitional commercial real estate debt investments in the U.S.
ACORE Capital also closed an additional $2 billion of separate account mandates, targeting similar commercial real estate lending opportunities.
ACORE’s Boyd Fellows says, “The scale of our access to transaction opportunities as a result of our reputation and relationships, validated by our track record, will provide us with a sustainable competitive advantage as we advance the Fund’s strategy.”
ACORE Credit IV is roughly 62% committed (net of reserves), having made 19 investments which represent approximately $308 million of Fund equity capital committed. These loans are diversified by property type, geography and borrowers.
Hodes Weill Securities, LLC acted as the exclusive financial advisor and global placement agent to ACORE.
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