LOS ANGELES, CA - CB Richard Ellis Investors announced the closing of CB Richard Ellis Strategic Partners U.S. 5, which consists of two limited partnerships, having raised equity commitments of $2.1 billion from institutional investors in the United States, Europe and the Middle East. The funds are closed to new investors and are expected to have total purchasing power of $6.4 billion including leverage.
With a strategy to purchase, reposition, develop and sell institutional quality real estate in highly rated major metropolitan areas in the United States, Strategic Partners U.S. 5 will execute value and opportunistic investment styles. Strategic Partners U.S. Value 5 will make value-added investments to reposition assets, stabilize moderate levels of vacancy, invest in "controlled risk" development and pursue a portfolio accumulation strategy. Strategic Partners U.S. Opportunity 5 will execute extensive repositioning programs primarily in distressed assets with high levels of vacancy, invest in "early stage" development, acquire and reposition portfolios and invest in operating companies that control high-quality real estate. Both funds will invest in office, multifamily, industrial and retail properties.
"Strategic Partners U.S. 5 is a continuation of the strategy we implemented in our prior U.S. funds that has been adapted to capitalize on the current investment environment," said Vance Maddocks, Chief Executive Officer of CBRE Investors. "This structure offers greater flexibility to our investors to select the style that best fits their real estate strategy. It also gives our investment team a broader mandate."
The Strategic Partners U.S. program is part of a global closed-end real estate private equity fund series which has closed 14 funds/investment programs since 2000 with $7.5 billion in committed equity and more than $22 billion in total purchasing power.
Source: Business Wire