LOS ANGELES—CBRE Global Investors has closed its latest US value-added fund at $1.34 billion. CBRE Strategic Partners U.S. Value 8 LP is expected to have total purchasing power of $3.3 billion, including leverage, a level comparable with its predecessor which closed in July 2015.
“Our team is focused on executing a cycle-aware investment strategy with an emphasis on creating and maximizing the value of under-leased and under-managed assets through our operational expertise,” says Robert Perry, the fund's portfolio manager. “We have already made significant progress in this strategy.”
US Value 8 has already invested or committed 59% of its total purchasing power, or $2 billion, with 17 office, multifamily, mixed-use and logistics assets acquired to date through the fund. They're expected to deliver to an 8% current return upon stabilization.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
