Fifth TerraCap Partners fund targets $400m
IREI has learned that TerraCap Management is targeting $400 million for its fifth value-added property fund, TerraCap Partners V.
It would be the firm’s largest real estate fund to date.
The firm could not be reached to comment on its fundraising activity by the time of publication.
Like its predecessors in the fund series, TerraCap Partners V is expected to invest across the real estate spectrum, in sectors such as CBD office, hotel, industrial, mixed-use and multifamily.
TerraCap’s previous fund, TerraCap Partners IV, closed with $311 million in July 2019, making it the firm’s largest property fund to date. It is almost fully invested. Investors in that fund included the Monroe Co