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DivcoWest launches fourth value-added fund
DivcoWest has launched a fourth value-added fund, DivcoWest Fund IV, according to a filing with the Securities and Exchange Commission. The fund, which has an $888 million fundraising goal, has raised approximately $125 million. DivcoWest declined to comment on its fundraising.
The fund is expected to replicate its predecessor’s investment style, targeting office and industrial properties in technology-oriented growth markets.
DivcoWest Fund III closed in January 2012, exceeding its $800 million target with $871 million raised in equity commitments. With leverage, DivcoWest Fund III provides the firm with more than $2 billion of capital available for investment.
The firm currently is investing Fund III's capital. In February 2013, with joint venture partner Brickman Associates, DivcoWest acqui