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Alternative Market Briefing

DivcoWest reaches a hard cap of $2.25bn for latest fund

Thursday, October 15, 2020

Laxman Pai, Opalesque Asia:

San Francisco-headquartered real estate investment firm DivcoWest closed its sixth value-added real estate fund, the $2.25 billion DivcoWest Fund VI, which was oversubscribed and above its $1.5 billion fundraising target.

The latest fund is DivcoWest's largest to date. Its predecessor fund, DivcoWest Fund V, closed with $1.6 billion in 2017.

"DivcoWest has a long track record of investing through multiple market cycles and across the risk spectrum. The firm seeks to invest in high quality commercial real estate assets in gateway U.S. markets, primarily targeting investments those that serve the innovation and life science sectors," it said in a press release.

Fund VI will primarily pursue the acquisition of existing value-add life science, R&D, and office properties in U.S. innovation markets such as Silicon Valley and San Francisco, among nearly a dozen more.

"Like our tenants, we constantly have to innovate. Through the current volatility, and leveraging on our team's experience, we believe we have an opportunity in Fund VI to capitalize on dislocations and explore and transform the markets where we do business," said Stuart Shiff, DivcoWest CEO and Founder.

"Fund VI's raise has allowed us to expand our capital base with key foreign relationships, while also growing and expanding our domestic partnerships," added Heather Meyerdirk, DivcoWest's Head of Capital Strategies and Formation.

DivcoWest Fund VI investors include ......................

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