Real Estate - JUNE 22, 2022

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American Real Estate Partners closes third real estate GP fund

by Kali Persall

American Real Estate Partners (AREP), an institutional fund manager and operating partner focused on data center, residential, industrial and office assets, has closed its third real estate GP fund with $63 million in equity commitments.

The investor base included a diverse mixture of public and private institutional investors and family offices, as well as a significant number of high-net-worth individuals.

Fund III will continue AREP’s focus on a value-add and opportunistic strategy, concentrating on data center, residential, industrial and office assets in East Coast urban and urbanized suburban markets.

The commitments from AREP Strategic Opportunity Fund III will primarily be used as co-investment capital for the institutional joint ventures the fund will sponsor. Fund III’s co-investment capital is targeted to invest in $1.5 billion to $2 billion of total asset value.

AREP has slated around 30 percent of Fund III for three data centers to be dev

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