Transwestern Investment is planning to raise $450m (€370.7m) for its third value-add US real estate fund, according to people familiar with the matter.
The amount being sought for the Transwestern Strategic Partners Fund 3 fund is more than double the $200m raised in April 2019 for TSP Value and Income Fund 2, the previous fund.
Fund 3 will have a leverage component of approximately 65% and will invest in a mixture of industrial, multifamily and healthcare-related real estate as well as some retail and medical office transactions.
According to sources, the fund will target a return of at least 12%.
Transwestern declined a request for comment.
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