DivcoWest raises $1b for fifth real estate fund
DivcoWest has raised $1.06 billion for its DivcoWest Fund V, according to a filing with the SEC.
The value-added fund, which is seeking to raise $1.5 billion, targets office buildings and R&D properties in the greater San Francisco Bay Area and Seattle. The fund will potentially look to invest in other markets, including Los Angeles; Portland, Ore.; Austin; Raleigh, N.C.; New York City; and Washington, D.C.
Earlier this year, the Texas Municipal Retirement Fund committed $75 million to DivcoWest Fund V.
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