DREAM raises $33.5m for U.S.-based core fund

Tokyo-based Diamond Realty Management (DREAM) has raised $33.5 million for its DREAM US Core Fund 2, a closed-end fund that invests in logistics and multifamily assets across the United States. 

An SEC Form D filed on Tuesday reveals that one investor has committed capital to the fund, which requires a minimum investment of $1 million.

DREAM was founded in October 2004 as a fully-owned subsidiary of Mitsubishi Corporation to launch and manage the private real estate funds for both domestic and international institutional investors, such as pensions, insurance companies and banks. 

The firm plans to be a minority investor in multifamily and logistics development projects undertaken by DREAM’s sister company, Diamond Realty Investment, which was established by Mitsubis