Another fund is being raised to snatch up distressed assets.
Greenberg Gibbons has announced that it is in the final stages of raising a $100 million private equity fund to make strategic shopping center acquisitions in East Coast, Southeast and selected Midwest markets. The fund, which will have the capacity to acquire $300 million of assets, will reposition retail spaces, make property upgrades, develop additional uses and improve operations.
The Greenberg Gibbons Real Estate Income Fund officially closed last month, with the majority of equity committed. It is finalizing remaining equity commitments through the second quarter of 2021. Fund investors include high net worth individuals, family offices and institutional investors, in addition to Greenburg Gibbons.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
