DivcoWest raises $1.4b for fifth fund
DivcoWest has raised $1.385 billion for DivcoWest Fund V, according to a filing with the SEC. The firm did not comment on its fundraising efforts.
DivcoWest Fund V is a value-added, commingled real estate fund. It primarily will target office buildings and R&D properties in the greater San Francisco Bay Area and Seattle. The fund potentially will look to invest in other markets, including Los Angeles; Portland, Ore.; Austin; Raleigh, N.C.; New York City; and Washington, D.C.
Fund V had raised $1.06 billion in equity commitments as of May 2016 and is seeking to raise $1.5 billion in total equity commitments. The fund previously received a $200 million commitment from the $188.7 billion California State