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Albany Road Real Estate Fund III nears $250m fundraising target
Real Estate - FEBRUARY 24, 2021

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Albany Road Real Estate Fund III nears $250m fundraising target

by Kali Persall

Boston-based Albany Road Real Estate Partners has raised $243 million for its third real estate fund, according to a document filed with the SEC on Feb. 12.

The core-plus, value-add investment vehicle, known as Albany Road Real Estate Fund III, opened to investors in 2019 and held its first close in February 2020 with $170 million in capital commitments.

The fund is seeking to raise $250 million.

Albany generally pursues investment opportunities priced in the $20 million to $50 million range, according to the firm’s website. The deal size is typically too small for major institutions to focus on, and too large for the typical private operator to tackle, so the firm aims to deliver returns to high-net-worth individuals and family offices.

Beyond

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