Lone Star real estate fund holds first close
Lone Star Funds has raised $3.09 billion for its Lone Star Real Estate Fund III (LSREF III) in a first close, according to a filing with the Securities and Exchange Commission. The firm launched the opportunistic fund in June with a $6 billion fundraising goal. A final close date was not disclosed.
The vehicle is part of the firm’s Lone Star Real Estate Fund series, which invests in distressed commercial real estate debt and equity products. The global fund series primarily invests in the United States, Japan and Western Europe.
Lone Star Real Estate Fund II held a $5.5 billion final close in May 2011. Transactions consummated and targeted by Lone Star