FEBRUARY 8, 2017

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Blue Heron holds $39m final close for second opportunity fund

by Jody Barhanovich

Blue Heron Asset Management held a $39 million final close for Blue Heron Real Estate Opportunity Fund II in December 2016, according to IREI’s FundTracker database.

The fund was seeking to raise $75 million in equity commitments. Blue Heron Real Estate Opportunity Fund II, which opened in March 2015, seeks to generate attractive risk-adjusted returns by investing in commercial real estate assets, preferably office, mixed-use, multifamily, retail, self-storage and student housing, primarily in the Southeastern United States, with a concentration in the rapidly growing metro areas of the region.

Within a broad opportunistic strategy, the fund will target a combination of current income and value creation and will employ active asset management to reposition, re-lease, rehabilitate and/or develop real estate to optimize overall fund performance. The fund’s predecessor, Blue Heron Real Estate Opportunity Fund I, held a $25.6 million final close in 2012. The fund prima

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