Fundraising - MARCH 11, 2013

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GEM Realty Capital seeks $750 million for fifth fund

by Sara Kassabian

GEM Realty Capital has recently launched GEM Realty Fund V, the fifth fund in the series. The opportunistic fund has a $750 million fundraising goal, according to a filing with the Securities and Exchange Commission. A final close date was not disclosed.

GEM Realty Capital declined to comment on fundraising activities.

GEM Realty Fund V will target diversified investments across multiple property types in the United States. Fund V’s predecessor, Fund IV, is close to fully invested.

GEM Realty Fund IV closed in 2010 with commitments totaling more than $550 million. The fund invests in direct and indirect equity and debt interests in real estate assets, including multifamily, office, retail, hotel, industrial, manufactured housing, storage facilities, undeveloped land and other real properties located primarily in North America.

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