CBRE GI Closes Value-add Fund at $1.3B
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Maddocks: “We have a cycle-tested investment team.”
LOS ANGELES—CBRE Global Investors on Thursday said it had closed the latest in its series of US value-add funds at north of $1.3 billion. With equity commitments from 26 institutional investors worldwide, CBRE Strategic Partners US Value 7 drew more investors and raised more capital than its predecessor, which closed in December 2012 at $1.1 billion from 22 investors. A spokeswoman tells GlobeSt.com it’s the largest to date of the 10 US Value funds raised over the past 15 years.
US Value 7 is expected to have total purchasing power of more than $3.3 billion, including leverage. It has been 75% committed to date, with investments in office, multifamily and hotel assets…
