US commercial real estate lender 3650 REIT has secured $430m (€486m) in capital commitments from investors including California State Teachers’ Retirement System (CalSTRS) and Singaporean conglomerate Temasek.
3650 REIT said the capital raising, which was also supported by a “top-ranked independent wealth management and investment advisory firm”, will be allocated across its credit strategies.
3650 REIT is known for originating, servicing and asset-managing commercial real estate loans and providing fixed-income advisory support to global institutions.
Jonathan Roth, co-founder and managing partner of 3650 REIT, said: “These commitments further diversify 3650’s investor base and expand our stable of world-class global institutions – including CalSTRS – who have made sizable capital commitments to our credit strategies, which continue to generate value for investors throughout an unprecedented market cycle.
“We are grateful for the support of all three organisations and look forward to building these relationships over time.”
Earlier this month, IPE Real Assets reported that CalSTRS had invested $62m in 3650 REIT 5, a core real estate debt fund.
Temasek and the unnamed registered investment adviser have joined other global institutions, including CalSTRS, Mubadala Investment Company and South Korea’s Public Officials Benefit Association, that have backed 3650 REIT in the past.
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