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ACORE Capital Closes CRE Debt Fund at $1.4B
Commercial real estate debt manager ACORE Capital, LP said Wednesday it had reached the final close of ACORE Credit Partners II (ACP II), which was oversubscribed with total equity commitments of approximately $1.4 billion. ACP received capital commitments from a diverse group of global institutional investors ranging from U.S. pension plans to sovereign wealth funds.
“We sincerely appreciate the strong support we received from some of the world’s largest domestic and foreign institutions, many of whom have previously invested with us,” said Warren de Haan, CEO of San Francisco-based ACORE. “We believe the success of this fundraise – especially in a very difficult capital raising environment – is a testament to our track record, relationships and the incredible opportunity we see to deploy capital into transitional real estate over the next few years.”
Michael Romo, head of global capital raising and investor relations at ACORE, added, “ACORE was established to serve as a reliable and trusted alternative to traditional sources of real estate debt. The increased cost and significant reduction in the availability of debt capital from traditional lenders is creating very attractive investment opportunities for ACORE.”
Since its inception in May 2015, ACORE has originated approximately $40 billion in loans.
- ◦Financing
