Almanac nears $1b target
Almanac Realty Investors nears its $1 billion target for its seventh vehicle, and may surpass its goal, according to an SEC filing. Almanac Realty Securities VII launched this year and raised $974.8 million in equity commitments in six months. The firm aims to hold a final close in March 2015.
ARS VII targets private placements of growth equity capital into public and private real estate companies, and will generate capital gains by growing the company’s equity value through acquiring, developing and/or repositioning real estate assets.
Recent commitments in the past 30 days show how popular ARS VII has been among U.S. institutional investors. This month, the New Mexico State Inve