The District's K street
WASHINGTON, DC–Private equity capital-raising continues to flourish as illustrated by two local area investors, which separately announced respective fund closings of commercial real estate funds. We will get to those in a minute but first we note that the announcements came as London-based Preqin released its initial survey of fundraising in Q3. Its top line observation was that capital continues to be increasingly concentrated among fewer firms with Q3 followed Q2 in marking the lowest number of funds to reach a final close since 2003.
The local investors that announced closing are Chevy Chase, Md.-based Federal Capital Partners and Washington DC-based ASB Real Estate Investments.
FCP closed its Realty Fund III, a $512.1 million fund targeting multifamily and commercial properties and structured opportunities throughout the Eastern US. With leverage its investments will come to about $1.7 billion. Fund III has already closed 20 investments committing $332.4 million of fund equity for a total value of $1.1 billion.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
