Fundraising - OCTOBER 21, 2014

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Artha Capital raises $180m for Mexican real estate fund

by Reg Clodfelter

Artha Capital, based in Mexico City, has raised $180 million for Artha Capital Real Estate Fund II, says Juan Carlos Sotomayor, director of capital markets and dispositions with the firm. There is not a specific fundraising target at this time, though a final close is expected by year’s end. The fund’s predecessor closed in October 2011 after raising $252 million.

Fund II, which launched in October 2013, will look to generate rental income by originating, developing, acquiring and operating retail, office, industrial and mixed-use assets in Mexico. Up to 65 percent leverage will be used, and an IRR between 16 percent and 20 percent is expected. Artha Capital has co-invested 7 percent in the fund.

The fund is 70 percent committed as of this date, with investments that include retail and mixed-use projects anchored by major tenants in Mexico.

“Artha has its own proprietary deal flow that can be attributed to an extensive network of ind

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