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Heitman Closes Latest Value-Added Fund at $1.1B

Chicago-based Heitman LLC recently closed on Heitman Value Partners IV (HVP IV), its fourth closed-end, value-added real estate fund. Heitman received capital commitments of more than $1.1 billion to the strategy, surpassing its initial target of $750 million.

The new fund will invest primarily through property-level joint venture partnerships with public and private REITs and real estate operating companies (REOCs) that can benefit from the prudent use of additional capital to create value, while generating higher total returns on investment.

To date, HVP IV has already invested or committed 44% of the fund’s investable capital to investments in industrial, multifamily and single-family rental, medical office, self-storage and student housing properties.

“Our strategy for HVP IV is to identify investment themes that position the fund to outperform through the market dynamics that occur during its life,” said Thomas McCarthy, portfolio manager for the Heitman Value Partners fund series.

Pictured: Heitman headquarters

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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 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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