Heitman launches fourth value-added fund
Heitman has launched the fourth fund in its value-added series, Heitman Value Partners IV. The firm did not comment on its fundraising efforts.
The new value-added real estate fund will invest in hotel, apartment, industrial, office and retail properties across the United States. The firm is seeking to raise $900 million in equity commitments for Heitman Value Partners IV.
The fund’s predecessor, Heitman Value Partners III, held a final close in 2015, raising $420.6 million in equity commitments. Heitman Value Partners III received commitments from the$186.2 billion Florida State Board of Administration, the $193.2 billion California State Teachers’ Retirement System and the $36.7 billion Public School Retirement System of Missouri.
Heitman’s value-added fund series was founded in 2003 and focuses on investing in assets across t