Cornerstone markets 10th real estate fund
Cornerstone Real Estate Advisers has a 10th real estate fund in the market, seeking $750 million, according to a filing with the SEC. The firm has raised $116.32 million in equity thus far for the fund.
The fund’s predecessor, Cornerstone Real Estate Fund VIII, closed in 2012 with $546 million in capital raised, $146 million more than its original $400 million equity target. CREF VIII invested in markets with high concentrations of employment in the technology, energy and healthcare sectors. And the firm closed Cornerstone Enhanced Mortgage Fund with $315 million in equity.