{"id":1004484844,"date":"2020-10-15T03:07:14","date_gmt":"2020-10-15T11:07:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004484844"},"modified":"2020-10-15T06:29:15","modified_gmt":"2020-10-15T14:29:15","slug":"divcowest-closes-fund-at-2-3b","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/divcowest-closes-fund-at-2-3b\/","title":{"rendered":"DivcoWest Closes Fund at $2.25B"},"content":{"rendered":"
\"\"<\/a>

Image by Buffik via Pixabay.com<\/em><\/p><\/div>\n

DivcoWest has closed its latest value-add real estate investment fund, DivcoWest Fund VI at roughly $2.25 billion in capital commitments, surpassing the fund target of $1.5 billion. The fund\u2019s investors include domestic public and corporate pension funds, insurance companies, as well as sovereign wealth funds.<\/p>\n

Taking advantage of the robust demand for innovation and life sciences space<\/a> brought about by the urgent need for developing and testing a COVID-19 vaccine, the firm is set to target these sectors, investing in gateway markets and acquiring existing value-add life science, R&D and office assets. The two sectors are more recession-resilient compared to DivcoWest\u2019s current portfolio, which primarily consists of office assets in major markets, including Austin, Texas, as well as Silicon Valley and Boston.<\/p>\n

Earlier this year, DivcoWest wrapped up work on the 460,000-square-foot Cambridge Crossing – JK Site in metro Boston. The firm is further expanding its campus with the addition of a two-building project totaling more than 450,000 square feet and dubbed Cambridge Crossing \u2013 Parcel G<\/a>. The two developments are part of a 45-acre redevelopment of a former rail yard at the intersection of Cambridge, Somerville and Boston. At full build-out, the campus is expected to include a new retail neighborhood, an 11-acre public park and more than 2,000 residential units.<\/p>\n

Uptick interest<\/h2>\n

DivcoWest\u2019s announcement comes less than a month after Blackstone closed its record-breaking investment vehicle<\/a>, Blackstone Real Estate Debt Strategies IV, with $8 billion in commitments. And prior to that, the firm also closed on its sixth European opportunistic real estate fund, Blackstone Real Estate Partners Europe VI, with a total capital commitment of $10.7 billion<\/a>.<\/p>\n

In June, Rockpoint Group completed equity raises for two investment vehicles<\/a>, securing an aggregate $5.8 billion. Launched two years ago, Rockpoint Real Estate Fund VI is an opportunistic vehicle targeting the purchase of high-quality, well-situated office, multifamily and hospitality assets below replacement cost. Meanwhile, Rockpoint Growth and Income Real Estate Fund III was also introduced in 2018, with a target of $2 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

DivcoWest Fund VI will primarily target value-add life science, R&D and office assets in gateway markets.<\/p>\n","protected":false},"author":753,"featured_media":1004476177,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21783,23891,21742],"tags":[32841],"class_list":["post-1004484844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-investment","category-national","category-latest","tag-divcowest"],"acf":[],"yoast_head":"\nDivcoWest Closes Fund at $2.25B - 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\/divcowest-closes-fund-at-2-3b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DivcoWest Closes Fund at $2.25B\" \/>\n<meta property=\"og:description\" content=\"DivcoWest Fund VI will primarily target value-add life science, R&D and office assets in gateway markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/divcowest-closes-fund-at-2-3b\/\" \/>\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=\"2020-10-15T11:07:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-15T14:29:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/Business-stock-investment.-Image-by-Buffik-via-Pixabay.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=\"Razvan Cimpean\" \/>\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\/divcowest-closes-fund-at-2-3b\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/divcowest-closes-fund-at-2-3b\/\",\"name\":\"DivcoWest Closes Fund at $2.25B - 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