CBRE Investment Management raises $599m for global special situations fund

CBRE Investment Management has closed on $599 million of equity commitments for its CBRE Global Special Situations Fund (GSSF) and co-investment vehicles. The private real estate fund closed above its $500 million fundraising target.

GSSF seeks to invest in situations where liquidity or capital constraints provide an opportunity to acquire high-quality real estate at an attractive basis. The primary execution focus has been through recapitalizations and partial interests in high-quality assets, according to CBRE Investment Management.

IREI understands that 70 percent of the fund’s capital already has been deployed across five investments providing exposure to European last-mile logistics, U.S. light industrial, U.S. single-family rental and U.S. self-storage.`

“The fund’s strategy is designed to take advantage of inefficiencies in capital markets and create unique opportunities for our investors through recapitalizations and GP-led secondaries,” said Mat