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CenterSquare raises $146m for third fund

by Zoë Wolff

CenterSquare Investment Management has held a final close of $145.75 million for its third fund, according to David Rabin, managing director at CenterSquare.

CenterSquare Value-Added Fund III launched in April 2014 and was targeting $250 million in equity commitments. The value-added fund will invest in middle-market transitional real estate assets in the United States, with a focus on the office, multifamily, retail, industrial, parking and hospitality sectors.

The firm held a final close of $462.8 million for Urdang Value-Added Fund II, the fund’s predecessor, in February 2008. The fund series debuted with Urdang Value-Added Fund, which held a final close of $267.3 million in June 2004.

 

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