Fundraising - FEBRUARY 12, 2020

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Albany Road closes first round of fundraising for latest real estate fund

by Kali Persall

Boston–based Albany Road Real Estate Partners has completed a first close for its third real estate fund, Albany Road Real Estate Fund III.

The firm has raised $170 million against a target of $250 million for the core-plus, value-add investment vehicle.

The firm could not be reached to comment on its latest fundraising activity at the time of publication.

Albany Road generally pursues investment opportunities priced in the $20 million to $50 million range, a deal size that is typically too small for major institutions and too large for the typical private operator, according to the firm’s website. The firm invests on behalf of high-net-worth individuals and family offices.

Albany Road said it pursues a diverse variety of product types such as urban, suburban, and medical offices, warehouses, distribution centers, flex industrial and self-storage.

The previous fund in the series, Albany Road Real Estate Fund II, completed a final close in April

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