Metropolitan Real Estate closes three funds of funds
Metropolitan Real Estate Equity Management has held the final close for three of its value-added and opportunistic funds. Metropolitan Real Estate Partners IX (MREP IX), Metropolitan Real Estate Partners International V (MREP International V) and Metropolitan Real Estate Partners Global VI (MREP Global VI) all held a final close on June 28, confirms Erin Roeder, a vice president of communications and public relations at the firm. All three funds launched in March 2012 and have portfolios that may invest in debt. The final amount of capital raised for each fund was not disclosed. MREP IX will invest primarily in funds that acquire office, multifamily, industrial, retail or other commercial real estate or real estate–related securities, including debt or mezzanine participations, or in sponsors and managers of real estate funds. MREP IX will be targeting opportunities in the United States and Canada.