ACORE Closes $556 Million Debt Fund and $2 Billion in Separate Accounts

NEW YORK, NY – ACORE Capital, LP announced the closing of ACORE Credit IV, the firm’s first discretionary commingled real estate debt fund, totaling $556 million. Additionally, the firm closed $2 billion of separate account mandates. The fund and separate accounts will focus on originating and managing transitional commercial real estate debt investments and target lending opportunities in the US, creating a combined lending capacity of up to $7 billion.

Approximately 62% of the fund is committed (net of reserves), with 19 investments representing $308 million of fund equity capital committed, which are diversified by property type, geography and borrowers.

Investors of the fund include various international institutions from North America, Europe, Asia and the Middle East, comprised of public and private pension plans, insurance companies, investment advisors, foundations and family offices. Investors of the separate account consist of global insurance companies that desire such investments, over commingled funds.

As ACORE’s inaugural commingled fund, it is intended to capitalize on the firm’s lending platform to source, originate, underwrite and asset manage commercial real estate debt investments. The fund is proposed to provide ACORE with access to transaction opportunities, to expand the investment capacity through co-investment capital commitments.

Global real estate advisory firm, Hodes Weill Securities, LLC acted as the exclusive financial advisor and global placement agent to ACORE.

ACORE Capital, LP is a commercial real estate finance company that participates in bridge lending. They specialize in financial solutions for borrowers and focus on originating, acquiring and managing mortgages, debt and equity throughout the US. ACORE has originated $16 billion in loans and $13.6 billion in assets under management, since its founding in 2015.