Institutional investors from across the globe have provided $1.3bn ($1.17bn) in capital for CBRE Global Investors’ latest US value-added real estate strategy.

CBRE Strategic Partners US Value 7 attracted commitments from 26 institutional investors from the US, Europe, Middle East and Asia.

With leverage, it has $3.3bn to spend and the fund has already invested roughly two-thirds ($2.5bn) of this in office, multifamily and hotel assets.

The start of the Strategic Partners US series of funds predates CBRE Investors’ merger with ING Real Estate to become CBRE Global Investors. The company has launched 10 such funds, raising $7.2bn in 10 years.

Vance Maddocks, president of Strategic Partners US, said: “We have a cycle-tested investment team that has already made substantial progress toward executing a disciplined and selective investment plan where we expect to be able to enhance value through our strong operations.”