Cerberus Capital Management closed approximately $2.8 billion of commitments for its flagship global opportunistic real estate strategy, called Cerberus Institutional Real Estate Partners V, LP.
CIREP V will invest in direct assets, real estate companies, entities with significant real estate exposure and real estate-related debt, including non-performing loan portfolios.
"The investment landscape plays to the strengths of our global real estate franchise," said Lee Millstein, president of Cerberus Global Investments and Global Head of Real Estate. "There are market dislocations and macrotrends that are driving compelling opportunities across our broad platform."
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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.
