Institutional investors from across the globe have provided $1.3bn ($1.17bn) in capital for Global Investors鈥� latest US value-added real estate strategy.
CBRE Strategic Partners US Value 7 attracted commitments from 26 institutional investors from the US, Europe, Middle East and Asia.
With leverage, it has $3.3bn to spend and the fund has already invested roughly two-thirds ($2.5bn) of this in office, multifamily and hotel assets.
The start of the Strategic Partners US series of funds predates CBRE Investors鈥� merger with ING Real Estate to become CBRE Global Investors. The company has launched 10 such funds, raising $7.2bn in 10 years.
Vance Maddocks, president of Strategic Partners US, said: 鈥淲e have a cycle-tested investment team that has already made substantial progress toward executing a disciplined and selective investment plan where we expect to be able to enhance value through our strong operations.鈥�
