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Meridian Group Closes $231M CRE Fund
Meridian Group, a Bethesda, MD-based company that invests in Washington, D.C., closed its second fund, Meridian Realty Partners II LP, with $231.6 million raised. The sponsor also raised and invested an additional $80 million of co-investment capital in Fund II transfers to date.
The fund will be geared toward acquiring well-located, institutional-quality assets in D.C., as well as Tysons, Arlington, Alexandria and Reston, VA; and Bethesda and Rockville, MD. The goal is to find these assets near metro stations, highways and walkable amenities, and to “create value through repositioning, renovations, leasing, redevelopment, development and land entitlements,” Bruce Lane, executive vice president and managing director of Meridian told Virginia Business.
Fund II has already acquired transactions totaling more than $400 million, including the 216,000-square-foot, 11111 Sunset Hills Rd. in Reston, VA.
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