Avenida raises $68.2 million for Colombia fund

Avenida Capital has held a first closing for its first institutional fund, Avenida Colombia Real Estate Fund I, raising approximately $68.2 million, according to a filing with the Securities and Exchange Commission. The fund opened in March 2012 and has a $150 million fundraising goal.

The opportunistic fund will invest in retail, office, residential and industrial properties located in the major cities of Colombia.

Avenida Capital is a private equity real estate investment firm with offices in Bogotá, Colombia, and New York City. The company pursues opportunistic fund and direct equity investments across select property types throughout Latin America. Since its founding in 2006, the firm has committed capital both as principal and on behalf of its investors to residential, retail and mixed-use projects in Brazil, Chile, Colombia, Panama and the United States. Avenida Capital has executed more than $1 billion of real estate transactions.