CBRE Global Investors Closes U.S. Value-Added Fund with More Than $1.3 Billion of Equity Commitments
July 02 2015 - 9:00AM
Business Wire
CBRE Global Investors today announced the final closing of CBRE
Strategic Partners U.S. Value 7, L.P., with equity commitments of
more than $1.3 billion from 26 institutional investors in the
United States, Europe, the Middle East and Asia.
Strategic Partners U.S. Value 7, which is now closed to new
investors, is expected to have total purchasing power of more than
$3.3 billion, including leverage. The fund has invested 75 percent
of this amount, or $2.5 billion, in high-quality office,
multifamily and hotel assets. Its office properties have executed
leases on 760,000 square feet of space. The Strategic Partners U.S.
program has raised $7.2 billion in equity in 10 funds in the past
15 years.
This fund is a continuation and evolution of CBRE Global
Investors’ enhanced-return strategy in the U.S. The investment team
is targeting value-added-level returns through investment in
institutional-quality real estate at a discount to reproduction
cost in U.S. markets that are expected to outperform the overall
real estate market. Additionally the team is working to execute a
market-leading value enhancement strategy that includes
repositioning underperforming assets and improving occupancy levels
through implementation of Strategic Partners’ signature tenant
amenity programs, including 5-Star Worldwide for office buildings
and Inspired Lifestyle for multi-family assets.
“We 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,” said Vance Maddocks, President of Strategic
Partners U.S. “We thank our investors and their consultants for the
confidence they have placed in us through their commitments to this
fund.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment
management firm with $87.1 billion in assets under management* as
of March 31, 2015. The firm sponsors investment programs across the
risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of
CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment
sourcing and other resources of the world’s premier, full-service
commercial real estate services and investment firm for the benefit
of its investors. CBRE Group, Inc. has more than 52,000 employees
in more than 370 offices (excluding affiliates) worldwide. For more
information about CBRE Global Investors, please visit
www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value
of real estate-related assets with respect to which CBRE Global
Investors provides, on a global basis, oversight, investment
management services and other advice, and which generally consist
of investments in real estate; equity in funds and joint ventures;
securities portfolios; operating companies and real estate-related
loans. This AUM is intended principally to reflect the extent of
CBRE Global Investors' presence in the global real estate market,
and its calculation of AUM may differ from the calculations of
other asset managers.
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version on businesswire.com: http://www.businesswire.com/news/home/20150702005047/en/
CBRE Global InvestorsPam Barnett, +1 213 683 4368Corporate
Communications Directorpam.barnett@cbreglobalinvestors.com
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