Angelo, Gordon opens net lease realty fund

Angelo, Gordon & Co. has opened a new fund to investors, AG Net Lease Realty Fund IV, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

As of March 15, 2018, Angelo, Gordon has raised $197 million for Net Lease Realty Fund IV. A fundraise target was not disclosed in the filing.

Angelo, Gordon’s net lease business provides real estate sale-leaseback financing to less-than-investment grade owner-occupiers of corporate real estate. The series invests in office, warehouse, industrial, distribution, retail, R&D, and special-use assets such as theaters and schools, in North America and select international markets. The transaction prices range from $15 million to $600 million.

Angelo, Gordon & Co. held a $1.026 billion final close for the previous fund in the series, AG Net Lease Realty Fund III, in 2014.