The Abilene (Texas) Firemen's Relief and Retirement Fund approved a $2.5 million to AG Realty Value Fund XI, a closed-end real estate debt investment vehicle managed by Angelo, Gordon & Co., as part of a search for a value-add real estate manager.
The board narrowed down three potential candidates​​ for an allocation to non-core real estate: AG Realty Value Fund XI, managed by Angelo, Gordon & Co.; Artemis Real Estate Partners Fund IV, managed by Artemis Real Estate Partners; and TerraCap Partners V, managed by TerraCap Management.
Angelo Gordon acquires underperforming assets in the United States, Europe and Asia for its real estate strategy. The firm invests in commercial real estate debt, with an emphasis on CMBS securities, and in net-lease real estate, focusing on the sale/leaseback of mission-critical, corporate facilities.
As of April 14, AG Realty Value Fund XI had
