Fundraising - OCTOBER 21, 2014

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Colony Capital holds final close for special situations fund

by Andrea Waitrovich

Colony Capital has held a $1.2 billion final close for its Colony Distressed Credit & Special Situations Fund III, according to the IREI FundTracker Database, exceeding its $1 billion fundraising goal.

Like its predecessor funds, CDCF III’s primary focus is on the acquisition of commercial real estate loans and loan portfolios, including NPLs and REO assets from distressed owners or otherwise motivated sellers, including government agencies and financial institutions. CDCF III also originates first mortgages and well-structured mezzanine loans on attractive basis. The underlying collateral of those investments are frequently highly diversified by property type and geography, with the primary focus in the United States and Europe.

Approximately 45 percent of the fund’s capital will go to loan acquisitions, 35 percent to originations and 20 percent to special situations. The new vehicl

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