Fundraising - JANUARY 31, 2017

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Lionstone raises $450m for value-added fund

by Andrea Waitrovich

Houston-based private equity investment firm Lionstone Investments has held a final close for its Lionstone U.S. Value-Add Four fund. The firm raised $450 million across a commingled fund and a co-investment sidecar.

LVA-Four prioritizes high-quality office, retail and mixed-use assets where Lionstone can create value at the property level through improvements in property occupancy and income.

The fund has acquired three properties to date, beginning with the September 2015 purchase of GreenStreet, a mixed-use development in downtown Houston. Atlanta’s Colony Square was added in late 2015 and, most recently 110 Atrium, an office building located in the CBD of Bellevue, Wash., was acquired.

Lionstone’s value-added program was launched in 2005. Since then, the firm has invested in and advised on more than $4 billion of value-added properties on behalf of university endowments, foundations, family offices, and large public and corporate pensi

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