California + Office | July 24, 2019

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

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Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.