PHILADELPHIA-Resource Real Estate Inc. has launched a new fund managed by real estate investment veteran Scott Crowe. The fund, the Resource Real Estate Diversified Income Fund, is listed with NASDAQ.
RRE and its affiliates have acquired and managed assets for institutional and individual investors, joint venture partnerships, as well as their own accounts for more than two decades. The company and its parent, Resource America, have offices in New York, Los Angeles, London, Singapore and a headquarters in Philadelphia.
The fund will offer investment opportunities in both listed and unlisted markets, via equity and debt securities. Crowe said the portfolio may include publicly-traded REIT shares, private equity real estate investments, preferred shares of REITs and non-traded REIT shares purchased at net asset value on the secondary market.
Crowe recently joined RRE as a managing director to build its real estate securities investment platform.
He has 15 years' prior experience, and was formerly a portfolio manager at Cohen & Steers, where he was responsible for more than $10 billion in institutional funds, leading a team of analysts in New York, London and Hong Kong.
RRE CEO Alan Feldman said, “The Resource Real Estate Diversified Income Fund employs a unique approach to real estate investing, allowing investors to gain access to private equity investments in the same managed portfolio that includes select publicly-traded real estate securities.” Also, he said, investors will get the benefit of lower fees and minimums by participating in the fund's institutional and specialty investments rather than investing separately.
The minimum investment for the Fund, which targets a dividend yield in excess of 5% is $2,500.
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