Cerberus Capital Management has a new fund in the market, Cerberus Institutional Real Estate Partners V, according to an SEC filing.
The filing does not disclose a fundraising target.
The fund’s predecessor, Cerberus Institutional Real Estate Partners IV, closed in 2017 with $1.8 billion in equity commitments. As with previous funds, the global opportunistic fund series pursues an investment strategy focused on distressed or otherwise undervalued real estate transactions globally, with a focus on the United States and Western Europe.
Earlier this month, LPC West, together with an affiliate of Cerberus Capital Management, acquired Triton Towers, an office campus in Renton, Wash., which is near Seattle and Bellevue, Wash. The sales price was $63 million. The seller of the more than 400,000-square-foot portfolio comprising three mid-rise buildings was a ve
