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Charles River holds final close for Boston-focused property fund
Charles River Realty Investors has held a $250 million final close for its second fund, Charles River Realty Fund II. The fund was closed on Dec. 15, 2012. Investors in the fund include educational and charitable endowments, insurance companies, pension funds, and family offices.
Charles River Realty Fund II follows its predecessor, Charles River Realty Fund I, focusing on value-added investments in New England, specifically in the Boston metropolitan market. Charles River Realty Fund II will invest across all property types, including office, retail, apartments, industrial, hotels, senior housing and student housing. The vehicle has approximately $1.5 billion in buying capacity, and it has not yet started investing its capital.
Charles River Realty Fund I raised $170 million and invested $1.1 billion in 17 properties in the Boston metropolitan area.