EXCLUSIVE — Mesa West Real Estate Income Fund V holds $1.37b final close, glides past target

Mesa West Capital, the private U.S. real estate credit arm of Morgan Stanley Investment Management, has raised $1.37 billion for its Mesa West Real Estate Income Fund V, exceeding the original fundraising target of $1 billion.

The investor mix included domestic and international public and private pension funds, insurance companies and individual investors.

Fund V, which was launched in 2020, is the first successor vehicle raised by Mesa West since Morgan Stanley Investment Management acquired Mesa West in 2017. Mesa West said this is the firm’s fourth consecutive fund to close above target, with the fund’s predecessor raising $900 million in commitments against its $750 million target in 2017.

Fund V was established to originate, purchase and manage loans secured by value-add and transitional commercial real estate assets throughout the United States. The vehicle will