CBRE Global Investors Closes Its Largest Value-Add Fund at $2.3B
CBRE Global Investors, headquartered in Manhattan, said Tuesday it had reached the final close of CBRE Strategic Partners U.S. Value 9, L.P. At $2.3 billion, it’s the firm’s largest value-added fund to date, with equity commitments to the fund and its co-investment vehicles from 23 institutional investors worldwide.
The fund, which exceeded its capital-raising target, is now closed to new investors. The fund and its co-investment vehicles are expected to have total purchasing power of $5.6 billion. They have already invested or committed 22% of this amount in 12 high-quality, primarily newly built logistics, residential and office assets in resilient, research-favored markets.
“The current environment is likely to accelerate the fund’s original decoupling thesis, creating investment opportunities as properties experience situational stress,” said Robert Perry, portfolio manager for the fund. “We expect an uneven recovery across markets and property sectors that we believe will create opportunity for our investors.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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