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Laxman Pai, Opalesque Asia: Dallas-based property investor Crow Holdings has raised $2.6bn for its ninth US value-add real estate fund.
The real estate investment titan said the Crow Holdings Realty Partners IX fund, which had an original $2bn hard cap target, received $2.3bn from investors as well as $265m worth of co-investments.
The combined $2.6 billion in commitments is twice the size of the $1.3 billion raised for the predecessor fund.
Crow Holdings Realty Partners IX, its largest fund to date, is a strategy primarily targeting multifamily and industrial investment and development. The fund also invests in specialty sectors, including manufactured housing, convenience stores, and gas stations, self-storage, and student housing.
Entirely raised during the Covid-19 pandemic, the Fund also began investing during this challenging time. To date, more than 63% of the Fund's capital has been committed across 62 investments, located primarily in the high-growth Southwest, Southeast and Mountain regions of the U.S.
"With more than 63% of Fund IX's capital committed, we are already generating strong investment results, including returning capital early in the Fund's life cycle through quick realizations. This performance is a credit to the team that has worked hard during this unprecedented and challenging time to continue to deliver on our commitment to all partners," said Bob McClain, CEO of Crow Holdings Capital. "We believe that our pipeline - partic...................... To view our full article Click here
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