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CBRE Global Investors Raises $616M for 5th U.S. Development Fund
CBRE Global Investors closed its capital-raising efforts for CBRE U.S. Development Partners 5, a development club fund. The Los Angeles-based global real asset investment management firm exceeded its target with equity commitments of $616 million to the fund and its co-investment vehicles.
Development 5, which is closed to new investors, is a continuation and evolution of a fund series sponsored by CBRE Global Investors focused on U.S. development investing. The fund works with Trammell Crow Company to invest in the development of a diversified portfolio of institutional-quality real estate assets designed for the “New Economy.”
The fund seeks state-of-the-art distribution and “last mile” fulfillment centers; multifamily rental communities; and state-of-the-art healthcare, commercial and mixed-use properties. With total projected development costs of $1.3 billion, including leverage, the fund has already invested more than 90% of its equity in 10 properties in Dallas, Denver, Phoenix, Portland, San Jose and Washington, D.C.
*Pictured Mercantile Village in Lake Oswego (Portland metro area) Oregon
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
