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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.”
- ◦Sale/Acquisition
