CenterSquare raises $280 million for US real estate fund

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CenterSquare

CenterSquare Investment Management has raised $280 million to invest in value-added rental housing and last-mile industrial facilities across the United States.

The manager said her CenterSquare Value Added Fund V Fund, which closed late last month, received commitments totaling $280 million, including co-investments.

According to CenterSquare, the diversified commercial real estate fund has raised capital from strategic relationships that have recommitted to a series of funds, as well as from several significant new investors.

US real estate

His predecessor fund, CenterSquare Value-Added Fund IV, raised $155 million when it closed in 2019.

According to CenterSquare, Fund V will primarily target the rental housing, single-family homes, and last-mile industrial sectors in the U.S. Sunbelt region. Fund V also invested in the refrigeration sector.

The fund has closed 12 of his investments so far, according to CenterSquare, with more than $100 million in his stake and more than $35 million in co-investments. The closed deal includes an investment in cold storage areas.

Jeff Reder, Managing Director and Co-Portfolio Manager at Private Real Estate, said:

“CenterSquare Value Added Fund V is a testament to our strong belief in the real estate sector and we believe it is poised for growth with strong long-term tailwinds.

“Our investment approach is grounded in extensive research, deep relationships, and a disciplined process that guides our investment efforts in deploying capital, creating value, and generating attractive returns from this attractive portfolio of assets. I hope it will come in handy at home.”