Endeavor Closes $610M Value-Add CRE Fund
The fund seeks opportunities in Austin, Dallas, Nashville, Charlotte, and Salt Lake City.
Endeavor Real Estate Group has closed its third and largest fund in the firm’s 20-plus-year history.
The Austin-based investment and development firm has closed a $610 million private equity fund.
The fund received “strong support” from new and existing partners, including over $500 million from private wealth sources, the firm said.
“The opportunity set has changed over the past year of fundraising, but we still have high conviction in our target markets,” Chase Spruill, a senior vice president with Endeavor, said in prepared remarks.
“Shifting generational demographics give us confidence that high job and population growth will continue to provide ample opportunities for our investors.”
Called Endeavor Opportunity Partners III, LP, the fund will be invested in commercial real estate value-add opportunities in five markets across the country: Austin, Dallas, Nashville, Charlotte, and Salt Lake City – with a particular focus on Central Texas.
The fund anticipates making 20 to 25 investments.