Cresset Partners and Diversified Real Estate Capital have launched a second opportunity fund, Cresset-Diversified Qualified Opportunity Zone Fund II.
Fund II seeks to invest in institutional-quality, core real estate in high-growth, urban markets in partnership with leading developers. Fund II seeks to invest in seven to nine projects, with a target of up to $750 million in equity, diversified by both geography and product type, with low leverage to achieve quality risk-adjusted returns over the requisite hold period. Cresset-Diversified anticipates partnering with several of the same developers from Fund I, in addition to new firms. Projects currently under consideration for Fund II include mixed-use, multifamily, retail, and office investments in the Southwest, Texas, mid-Atlantic, Northeast and West Coast.
Similar to Fund I, investors will be able to access these pro
