Swift Real Estate Partners has so far raised over 90% of its $500m (€449.6m) capital raise for its third value-add US real estate fund.

According to sources, the Swift Real Estate Partners Fund III fund, which has raised over $450m in less than nine months, has received around 95% of its capital commitment from limited partners in the predecessor funds.

Fund II completed a $409m capital raise in June 2016 and Fund I reportedly raised $324m in 2014

Fund III, which targets existing office and industrial properties in the West Coast of US, is close to completing $250m worth of deals that includes a mixture of equity and debt.

Swift declined to comment when contacted for this story.