Mesirow Financial closes multifamily value-added real estate fund

Mesirow Financial has held a final close for its Mesirow Financial Real Estate Value Fund III, with equity commitments of $567 million from institutional investors across the United States, Europe and Australia.

The value-added fund will primarily focus on the U.S. multifamily sector, with a secondary focus on the student housing sector.

Over the last five years, the Mesirow Financial’s Real Estate – Direct  team has raised more than $1.5 billion in equity and has invested in nearly 13,000 multifamily units in 23 cities nationwide. Assets are diversified across suburban and urban properties and U.S. geographic regions, as well as by construction type and vintage year. By design, the properties acquired share close proximity to public transit and are all located in areas with significant differentials between costs-to-own and costs-to-rent.