Mesirow raises $227m for multifamily fund
Mesirow Financial has raised $226.6 million for Mesirow Financial Real Estate Value Fund II, bringing it nearly halfway to its $500 million fundraising goal, according to a filing with the SEC.
The value-added fund, which launched in September 2013, focuses on renovations, repositioning, substantial lease-ups and management enhancements of multifamily properties nationwide. The fund splits investments geographically — West (35 percent), Midwest (10 percent), East (35 percent) and South (20 percent) — as well as between joint venture development (20 percent) and value-added acquisitions (80 percent).
As of January, its portfolio included Terra Vista, located in Littleton, Colo.; Eleven North, located in Nashville; and Platform 14, located in Portland, Ore.