Blue Vista Capital Management has launched a new value-add fund to invest in diversified properties in the United States, IREI understands.
The vehicle, Blue Vista Real Estate Partners VI, was in its pre-marketing phase as of March. The vehicle will focus on middle-market real estate — smaller assets with return premiums relative to larger assets in core markets.
Blue Vista declined to comment on its fundraising efforts.
The previous fund in the series, Blue Vista Real Estate Partners V, closed in 2019 with $505 million in capital, exceeding its fundraising target of $500 million. The closing marked the largest fundraise to date for Blue Vista, with commitments from foreign and domestic institutions, pension funds, endowments/foundations, insurance companies, and high-net-worth individuals.
Fund V’s investment strategy is focused on acquisitions and select
