Easterly raises $114m for fund targeting government tenants

Easterly Partners has raised $114.4 million for its U.S. Government Properties Income & Growth Fund II, according to a filing with the SEC. The opportunistic fund launched in 2013 with a $250 million target and will invest in U.S. properties that are net-leased to federal government agencies. 

Fund II follows the same strategy as its predecessor, U.S. Government Properties Income & Growth Fund I, which was launched in 2010 by PRP, another Washington investment manager. The fund targets an aggregate portfolio valued at approximately $1 billion of class A properties fully leased to U.S. federal government agencies.

Its assets include an FBI field office in San Antonio, a federal courthouse in Texas, a Drug Enforcement Administration office building in Dallas and a regional border control station in Mont