Fundraising - JANUARY 28, 2014

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Mesirow raises $175m for second multifamily fund

by Andrea Waitrovich

Mesirow Financial has raised $175.1 million for its value-added fund, Mesirow Financial Real Estate Value Fund II, according to a filing with the SEC. The fund launched in September with a $500 million fundraising goal.

The firm’s second fund follows Mesirow Financial Real Estate Value Fund, which closed in June 2012 with $379.3 million. The value-added fund focuses on renovations, repositioning, substantial lease-ups and management enhancements of multifamily properties. The vehicle is split 20 percent joint venture development and 80 percent value-added acquisitions. Geographic focus is nationwide, with allocations to West (35 percent), Midwest (10 percent), East (35 percent) and South (20 percent). Its portfolio includes Terra Vista, located in Littleton, Colo.; Eleven North, located in Nash

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