CenterSquare launches new value-added fund
CenterSquare Investment Management, a Philadelphia-based global investment manager, has launched a new real estate fund, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
The new fund, CenterSquare Value-Added Fund IV, is the fourth fund in the value-added series.
The fund series invests in middle-market transitional real estate assets in the United States, with a focus on the office, multifamily, retail, industrial, parking and hospitality sectors, according to IREI’s FundTracker database.
The fund’s predecessor, CenterSquare Value-Added Fund III, held a $146 million final close in 2015. The firm held a final close of $462.8 million for Urdang Value-Added Fund II in February 2007. The fund series debuted with Urdang Value-Added Fund, which held a final close of $267.3 million in 2003.
As of Dec. 31, 2017,