L&B Realty ends fundraising for Income Partners fund, sells properties
Dallas-based L&B Realty Advisors has put a pause on fundraising for its L&B Core Income Partners fund, an open-end core real estate fund that invests in office, retail, multifamily and industrial properties across the United States. The fund has also sold several assets as part of a restructuring exercise.
The firm declined to comment on the fund’s activity.
Launched in 2010, the fund reported a fundraise of $467 million in December 2017 and $482 million a year later, according to a SEC Form D filed in December 2018.
According to a report by The Townsend Group, L&B Realty Advisors has already sold three assets in an effort to cover redemption requests. Assets include an industrial property in Southern California, which sold to Rexford Industrial for $66 million; an office building in Seattle, which sold to DWS