Los Angeles
CBRE has closed CBRE U.S. Development Partners 5, its fifth development fund, oversubscribed. The fund and co-investment vehicles closed with $616 million in equity commitments, exceeding the firm's initial target. The fund is now closed to new investors.
This fund is a continuation of CBRE's development series funds, which targets development investing in the US. It will continue its partnership with developer Trammell Crow Co. to develop a diversified portfolio of institutional quality assets, both mixed-use and commercial. The fund has already invested 90% of its equity in 10 properties in Dallas, Denver, Phoenix, Portland, San Jose and Washington, D.C.
The first three funds in the series are fully liquidated and produced an average 20% internal rate of return and a 1.7-times equity multiple, net to investor clients.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.
Kelsi Maree Borland
