CBRE Global Investors holds $1.3b final close
CBRE Global Investors has held a final close for its CBRE Strategic Partners U.S. Value 7, with equity commitments of more than $1.3 billion from 26 institutional investors in the United States, Europe, the Middle East and Asia.
Strategic Partners U.S. Value 7 is expected to have total purchasing power of more than $3.3 billion, including leverage.
Fund 7 invests in some of the same markets as Strategic Partners U.S. Value 6, however, there has been a shift more specifically to high-employment markets, such as Boston, Dallas, Portland, the San Francisco Bay Area, Seattle and Southern California.
“It is a competitive environment. We are not taking significant risk, as we are not an opportunistic fund. We describe the style of investment as low-risk value-added, which we think is appropriate for the cycle,” says Vance Maddocks, president of Strategic Partners U.S.
The value-added fund has already invested 75 percent of this am