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Chicago & Midwest  + Downtown  + Finance  | 
Transwestern represented the ownership of 191 N. Wacker Dr. in Chicago's West Loop on two leasing transactions with law firm tenants

Heitman Raises $3.2B Across Three New Real Estate Funds

Chicago-based Heitman raised $3.2 billion for three new funds, including pools of capital dedicated for co-investments, CEO Maury Toganrelli told Bloomberg News Tuesday. 

The firm has begun making investments out of its three latest vehicles, which are now closed and have a three-year investment horizon: North America-focused Heitman Value Partners V, high-yield credit-focused Heitman Real Estate Debt Partners II and Heitman Global Real Estate Partners II.

Heitman, which had roughly $44 billion in assets under management as of June 30, raised money from institutional investors ranging from sovereign wealth funds to corporations around the globe. 

“The COVID environment has accelerated secular changes in retail and office,” Tognarelli told Bloomberg. “We believe they still merit inclusion in portfolios because they offer favorable entry points.”

However, Heitman will focus investments from the new funds on self-storage, medical offices, apartments, student housing, senior housing and warehouses and offices, said Tognarelli.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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