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Mesirow Exceeds Target for Latest Value-Add RE Fund
Mesirow on Wednesday announced a successful capital raise for the Mesirow Financial Real Estate Value Fund IV, the latest in the Chicago-based firm’s series of risk-balanced, multi-family value-added investing opportunities. Reflecting the team’s record of strong risk-adjusted returns, fundraising was oversubscribed after reaching a hard cap of $750 million.
Managed by Mesirow Institutional Real Estate Direct Investments (IRED), Fund IV will invest in the multifamily sector across the nation’s top 25-30 markets. In a post-pandemic environment, the team’s sector-focused strategy is positioned to capitalize on long-term secular themes.
“Apartments are the only major property type where individuals as end users directly drive necessity-based demand,” said Alasdair Cripps, CEO of IRED. “In a normalizing post-COVID market, we believe that constructive fundamentals – and strong results for our investors – will be supported by under-build in the apartment sector as well as rising construction costs and labor shortages in the housing industry.”
- ◦Financing
