{"id":1004189821,"date":"2017-09-08T01:22:20","date_gmt":"2017-09-08T09:22:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004189821"},"modified":"2022-12-08T11:04:41","modified_gmt":"2022-12-08T19:04:41","slug":"divcowests-fifth-fund-exceeds-1-5b-target","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/","title":{"rendered":"DivcoWest\u2019s Fifth Fund Exceeds $1.5B Target"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"101<\/a>

101 S. Ellsworth Ave., San Mateo, Calif.<\/p><\/div>\n

DivcoWest Real Estate Services held its final close on DivcoWest Fund V, raising $1.6 billion in commitments for investment in value-add office and R&D assets. The investment vehicle, having surpassed its target of $1.5 billion, takes on the title of DivcoWest\u2019s largest fund ever.<\/p>\n

DivcoWest is no stranger to exceeding a fundraising goal, but the real estate investment and asset manager never counts its chickens.<\/p>\n

\u201cWe try to be realistic with our targets, but never assume that they will be reached until completed and are always grateful our partners have chosen to trust us with their equity,\u201d<\/em> Heather Moylan, senior director and head of investor relations with DivcoWest Real Estate Services, told Commercial Property Executive<\/em>. \u201cOur objective is to continue earning and maintaining that trust through diligence, communication, transparency and performance.\u201d<\/em><\/p>\n

The best advertisement for Fund V turned out to be DivcoWest\u2019s previous funds, as 80 percent of commitments to Fund V came from existing investors. Among the repeat offenders was Oregon Public Employees’ Retirement Fund; the pension committed $100 million to DivcoWest Fund IV, which closed in 2014 and has returned more than 130 percent of invested capital, and $250 million to Fund V.\u00a0<\/p>\n

\u201cWe believe that our performance,\u00a0continued disciplined approach to investing and\u00a0clear strategic vision, as well as a shared importance of relationships have helped influence the continued trust and participation from long-standing investors and the attraction of new investors,\u201d<\/em> Moylan added.<\/p>\n

All told, the list of contributors to Fund V consisted of more than 40 institutional investors, representing domestic and foreign public and private pension funds, financial institutions, endowments and high net worth individuals.<\/p>\n

More shopping to do<\/strong><\/h2>\n

Fund V landed its first commitments in April 2016, and DivcoWest hasn\u2019t been too shy about investing. \u201cWe are pleased to have 25 percent of Fund V already designated to what we believe is an attractive group of investments,\u201d<\/em> Stuart Shiff, DivcoWest\u2019s founder & CEO, said in a prepared statement. \u201cWe look forward to continuing the creation and management of a dynamic and disciplined portfolio of real estate and real estate related investments<\/a> for our investors.\u201d <\/em><\/p>\n

Fund V, like its predecessors, targets assets in high-barriers-to-entry markets featuring strong education, employment, amenities and transportation systems. High on the list are the San Francisco Bay Area, Boston, Southern California, Washington, D.C., New York City, Seattle, and Austin, TX. Fund V\u2019s list of purchases to date includes 101 S. Ellsworth Ave., an 88,000-square-foot office building in downtown San Mateo that was picked up for $73.5 million in what was the largest office transaction in Northern California\u2019s Peninsula region in the second quarter of 2017.<\/p>\n

Any investors who missed out on Fund V will have another opportunity\u2014at some point; no date has yet been set for the launch of DivcoWest Fund VI.<\/p>\n

\u00a0Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The value-add investment vehicle, which targets office and R&D properties in markets with high barriers to entry, closed on a high note, becoming the company\u2019s largest fund ever. <\/p>\n","protected":false},"author":969,"featured_media":1004189828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742,21747],"tags":[32841,37488],"class_list":["post-1004189821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","category-office","tag-divcowest","tag-stuart-shiff"],"acf":[],"yoast_head":"\nDivcoWest\u2019s Fifth Fund Exceeds $1.5B Target - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DivcoWest\u2019s Fifth Fund Exceeds $1.5B Target\" \/>\n<meta property=\"og:description\" content=\"The value-add investment vehicle, which targets office and R&D properties in markets with high barriers to entry, closed on a high note, becoming the company\u2019s largest fund ever.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-08T09:22:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:04:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/101-S.-Ellsworth-Ave.-San-Mateo-Calif..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/\",\"name\":\"DivcoWest\u2019s Fifth Fund Exceeds $1.5B Target - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/101-S.-Ellsworth-Ave.-San-Mateo-Calif..jpg\",\"datePublished\":\"2017-09-08T09:22:20+00:00\",\"dateModified\":\"2022-12-08T19:04:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/divcowests-fifth-fund-exceeds-1-5b-target\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/101-S.-Ellsworth-Ave.-San-Mateo-Calif..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/101-S.-Ellsworth-Ave.-San-Mateo-Calif..jpg\",\"width\":800,\"height\":620,\"caption\":\"101 S. 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