Fundraising - DECEMBER 18, 2014

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Investment manager raises $93m for third fund

by Andrea Waitrovich

CenterSquare Investment Management has raised $92.5 million for its third fund, according to an SEC filing. A final close is anticipated during second quarter 2015.

CenterSquare Value-Added Fund III launched in April 2014 with a $500 million equity fundraising target.

The value-added fund will invest in middle-market, transitional real estate assets in the United States, focusing on the office, multifamily, retail, industrial, parking and hospitality sectors. It will acquire properties with total capitalizations ranging from $25 million to $75 million.

The fund series debuted with Urdang Value-Added Fund, which closed in June 2004 with $267.3 million in committed capital. The fund was fully invest

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