Cadre brings new value-add real estate fund to market

Cadre has launched a new value-add real estate fund, Cadre Direct Access Fund II (CDAF II).

The vehicle has a $400 million fundraising target and will focus on properties that Cadre believes have the potential for outperformance. Cadre will allocate about 50 percent of the fund’s capital to multifamily assets in high-growth markets, and 50 percent to industrial properties, leisure-oriented hotels and high-quality office buildings. Cadre specializes in mid-cap ($50 million to $150 million) assets, according to the firm’s website.

“We believe that property values are resetting across the country, and that such price dislocations are creating attractive opportunities to acquire commercial real estate assets at meaningful discounts to recent pricing,” said the firm’s website. “Our team intends to tap into these timely opportunities in our new diversified fund.”

CDAF II’s investment strategy is expected to be largely consistent with the strategy deplo