Search
 

Shorenstein Co. Closes Sixth Investment Fund

SAN FRANCISCO-With $600 million in equity, SRI Six is the largest fund sponsored by Shorenstein to date. Investors in the fund include foundations, college endowments, pension funds and high net worth individuals. Shorenstein has committed $75 million of its own capital to the fund

By Brian K. Miller | Updated on August 28, 2001

SAN FRANCISCO-With $600 million in equity, Shorenstein Co. has closed Shorenstein Realty Investors Six, the largest fund sponsored by the company to date. In addition to Shorenstein’s $75 million capital investment, investors in the fund include foundations, college endowments, pension funds and high net worth individuals.

SRI Six will invest in large Class A office assets in major markets the United States using acquisition debt in the range of 60-65% of cost. “With our fifth fund about to be fully invested and the downturn in the national economy beginning to have an identifiable impact on capital flows in the Class A office sector,” says chairman and CEO Douglas Shorenstein, “we feel that the timing of the equity raise for SRI Six affords us a tremendous opportunity to build yet another successful investment portfolio.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.