Centerbridge Exceeds Target with $2.3B Real Estate Fund
Private investment firm Centerbridge Partners, L.P. has closed its second real estate fund, Centerbridge Partners Real Estate Fund II (CPREF II), with $2.3 billion in capital commitments, significantly above the original target of $1.5 billion. The fund received strong support from existing and new investors across the globe.
CPREF II will target thematic investment opportunities across self-storage and specialized storage, digital real estate, industrial and logistics, residential and subsectors experiencing positive tailwinds as a result of shifting consumer behaviors, with a focus on leisure and experiential real estate.
“We continue to see real estate markets evolve, as technology accelerates demand for asset classes from logistics to digital real estate and impacts how companies serve customers in residential, storage and leisure sectors,” said William Rahm, head of real estate at New York-based Centerbridge.
The new fund represents an increase of more than 150% over CPREF I, which closed in December 2018.
Pictured: Centerbridge headquarters in Midtown Manhattan.
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).