Heitman recently closed three investment funds valued at $3.2 billion. The three funds include Heitman Value Partners V, Debt investment fund Heitman Debt Partners II and Global core plus fund and Heitman Global Real Estate Partners II. The equity commitments include co-investments.

"We were pleased to reach our targets, and in the case of Heitman Value Partners V and Heitman Debt Partners II, meet or exceed the funds' hard caps," Lewis Ingall, senior managing director at Heitman, tells GlobeSt.com. "Early in the pandemic we recognized the need to shift our approach in order to address the unique challenges that 2020 presented. This included moving meetings to the virtual environment and conducting the appropriate due diligence with limited partners in creative ways. In terms of our expectations, gleaning data from how real estate has behaved during periods of volatility and in the recovery period of an economic cycle, we believed that being in a position to deploy capital during the early recovery would provide attractive entry points and position our funds well for future growth."

The three funds had a mix of domestic and foreign capital, with 60% US-based investors and 40% international capital. Overall, about 30% of the commitments were from first-time investors to Heitman's funds. Heitman Value Partners V had $1.9 billion in equity commitments, surpassing the initial hard cap. Heitman Real Estate Debt Partners II has $500 million in equity commitments, which met the hard cap, while Heitman Global Real Estate Partners II secured $750 million in commitments.