Global real estate investment manager Heitman has received $3.2bn (€2.7bn) worth of capital commitments for three of its funds.
The manager said the Heitman Value Partners V (HVP V), a North American value-add fund has raised $1.9bn, surpassing its hard cap at final close. The Heitman Real Estate Debt Partners II (HDP II), a North American high-yield debt fund, achieved its $500m hard cap and Heitman Global Real Estate Partners II (G II), a global core-plus fund also met its target with a $750m capital raise at close.
Maury R Tognarelli, Heitman CEO, said: “We are pleased to announce the closes of HVP V, HDP II, and G II. The formation and subsequent capital raise for these funds aligns well with the improvements in economic and property market conditions as the globe continues to recover from the public health crisis.”
Tognarelli said the funds are well-positioned for the targeted investment opportunity sets and should benefit from the favourable entry points expected to evolve as the recovery extends.
“In this environment, strategies underpinned by secular trends, and in sectors such as multifamily, single-family rentals and self-storage, that generate returns from a combination of income and value creation opportunities are attractive,” Tognarelli said.
Lewis Ingall, Heitman senior managing director, said: “Early in the pandemic, we recognised the need to accelerate the timelines of strategies positioned to benefit from deploying capital early in the recovery period of a market cycle.
“We are pleased to have launched and closed these three new funds, which meet the market needs and broaden the range of investment strategies available to our clients to assist them in achieving their portfolio objectives.”
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