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Mack Real Estate Credit Strategies holds final close on real estate debt fund
Fundraising - AUGUST 3, 2020

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Mack Real Estate Credit Strategies holds final close on real estate debt fund

by Andrea Zander

Mack Real Estate Finance  (MREF) and its co-investment vehicles have raised a total of $900 million of capital for opportunistic credit, mezzanine lending, preferred equity and special situations in the commercial real estate sector.  MREF is managed by Mack Real Estate Credit Strategies.

MREF held its initial close in the latter half of 2018 and its final closing this year, with commitments from a global set of institutional investors including sovereign wealth funds, insurance companies and U.S. state pension systems, including the Teacher Retirement System of Texas, which invested $225 million to the fund.

MREF has invested in major markets including Boston, New York, Philadelphia, and San Jose, Calif.  At this stage, the fund is more than 75 percent committed for investments across a diverse portfolio of multifamily, mixed-use, office and land.

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