ALTO Real Estate holds $127m close for third fund

ALTO Real Estate Funds has held a final closing of ALTO Fund III with a total equity commitment of $127 million. The fund invests in open-air shopping center properties in growth markets throughout the United States.

“Closing on Fund III is a terrific milestone for ALTO,” said Scott Onufrey, president and managing partner of ALTO Real Estate Funds. “We have built a strong track record of performance with our prior funds, and we see tremendous opportunity in our sector to find value-add and core-plus investments.”

Since the initial closing in 2017, Fund III has invested approximately $47 million in seven properties with a total capitalization of $246 million, which includes partner equity and financing. Fund III will continue to pursue additional assets in accordance with its investment strategy.

ALTO Real Estate Funds is a series of closed-end investment funds specializing in value-add commercial real estate across the United States. During ALTO’s nine