CBRE Global Investors Closes $2.3B Fund

Image by Pete Linforth via Pixabay.com

CBRE Global Investors has officially closed its largest value-add fund to date, exceeding its capital-raising target. Dubbed CBRE Strategic Partners U.S. Value 9, the fund raised a total of $2.3 billion in equity commitments from 23 institutional investors across the U.S., Europe, the Middle East and Asia. 

The total purchasing power of the fund and its co-investment vehicles is expected to reach $5.6 billion. Roughly $1.2 billion, or 22 percent of the amount, is already locked in with the acquisition of 12 properties, ranging from logistics to office and residential assets. The fund’s investment strategy mainly focuses on new development opportunities in expanding markets, but also targets dislocations in mature markets.

Up until now, CBRE’s Strategic Partners U.S. program has accumulated a total of $11.8 billion in equity across 15 separate funds and co-investment vehicles. Earlier this month, a fund sponsored by CBRE Global Investors acquired a Class A industrial property in Greenfield, Ind. Developed by Ambrose Property Group, Mount Comfort Logistics Center II is a recently constructed 505,872-square-foot warehouse/distribution facility. The asset came online during this year’s first quarter and was fully leased at the time of the transaction.