Endeavor Closes $610M Equity Fund

Chase Spruill, Senior Vice President, Endeavor Real Estate Group. Image courtesy of Endeavor Real Estate Group

Austin-based Endeavor Real Estate Group has closed a $610 million private equity fund dubbed Endeavor Opportunity Partners III. Part of the financing, totaling $500 million, came from private sources. As the the company’s third and largest investment vehicle to date, the fund’s total capitalization is anticipated to exceed $1.5 billion.

Endeavor Opportunity Partners III will serve for the development and acquisition of multifamily, industrial, retail and mixed-use properties. The assets are set to be located mainly across Austin, Texas and Dallas, but also in Nashville, Tenn., Charlotte, N.C., and Salt Lake City. Senior Vice President Chase Spruill will be in charge of managing the fund that is anticipated to make between 20 and 25 investments.

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Since its founding in 1999, Endeavor has acquired or developed more than $5.1 billion in real estate assets across various market. The company’s current portfolio totals more than 28.4 million square feet.

At the end of 2022, Endeavor received the approval for a six-building mixed-use project in Austin. At full-build-out, 305 South Congress will include 1.5 million square feet of office space, 1,478 residential units, a 275-key hotel and 150,000 square feet of retail and restaurant space.

Recent significant investment funds

Despite ongoing market volatility and economic uncertainty, investors are still active. This month, EQT Exeter’s Industrial Value Fund IV closed at $4.9 billion. The investment vehicle is considered to be one of the largest single-property sector operator funds ever raised.

Representing the biggest real estate or private equity drawdown fund in history, The Blackstone Group’s $30.4 billion investment fund closed back in April, bringing the company’s capital commitments to $50 billion globally.