The Davis Companies, a real estate investor, manager and developer based in Boston, is seeking $650 million for its fourth and largest real estate fund, according to Real Estate Alert.
Davis Investment Ventures 4 is a value-added vehicle that aims for a 14 percent to 16 percent return. It will primarily redevelop and reposition properties across all asset classes in “knowledge and innovation markets,” including Atlanta, Boston/Cambridge, New York, and Raleigh and Durham, N.C. The fund also has the ability to construct properties and invest in distressed debt. With leverage, the vehicle would have some $2 billion of investment capacity.
Park Madison Partners of New York is the placement agent.
The third fund in the series, Davis Investment Ventures 3, held its final close at yearend 2016 and has nearly fully invested its $512 million of equity. Altogether, the Investment Ventures fund series has raised $1.25 billion in equity, including co-inves
