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Sign in Sign up for a FREE subscriptionCenterSquare raises $155m for latest value-add fund
CenterSquare Investment Management has completed a final close for its CenterSquare Value-Added Fund IV with $155 million in capital commitments, a spokesperson for the firm confirmed in an email.
The investor base consisted primarily of pension funds and nonprofit foundations, as well as Taft-Hartley, family office and high-net-worth investors.
The value-add fund seeks middle-market opportunities across sectors in the United States, focused on primary non-gateway markets in the office, multifamily, retail, industrial, parking and hospitality sectors. Fund IV began deploying capital when it raised $100 million at its first close in April 2018, and is already more than 80 percent invested, noted the spokesperson.
The previous fund in the series, CenterSquare Value-Added Fund III, which raised $145.75 million upon final close in 2016, is fully invested.
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