Argosy raises $26 million for opportunistic fund
Argosy Real Estate Partners has raised $26.8 million for its $200 million Argosy Real Estate Partners III, according to a filing with the Securities and Exchange Commission. A final close date was not disclosed. The opportunistic fund makes direct investments in the hotel, land, mixed-use, multifamily, office and retail sectors in the United States.
Argosy Real Estate Partners III is a follow-up to Argosy Real Estate Partners II, which raised approximately $61.6 million since its inception in August 2011. A final fundraising goal was not disclosed nor was a final close, which was expected to be on Jan. 31, 2013. The opportunistic fund buys distressed mortgages and foreclosed properties from struggling community and regional banks, and it has a focus on commercial, for-sale resi