Fundraising - SEPTEMBER 23, 2016

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ALTO launches $300m retail property fund

by Andrea Waitrovich

Boutique investment company ALTO has launched ALTO Value-add Retail Fund III with an equity fundraising target of $300 million.

The fund will make property deals between $25 million and $100 million in secondary markets with strong macroeconomic fundamentals, high barriers to entry and positive demographics.

The fund plans to acquire assets leased at below-market rents and empty big-box stores to reposition for modern uses at market rates. In addition, ALTO Value-add Retail Fund III will seek properties that have excess space for expansion or redevelopment potential for strong retailers performing above their chain averages.

The fund’s predecessor, ALTO Value-add Retail Fund II, closed in 2015 with $147 million in equity commitments and has 38 properties in its portfolio.

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