Northstar seeks $350m for value-added fund
Northstar Commercial Partners is seeking to raise $350 million for Northstar Enterprise Opportunity Fund I, according to Peter Auerbach, who serves as CIO of enterprise funds with Northstar.
Northstar Enterprise Opportunity Fund I is targeting a return of approximately 17 percent and will invest in distressed or value-added office, medical office, retail, multifamily and senior living properties in the United States.
Northstar also is currently marketing Northstar Real Estate Opportunity Fund II, which launched in August 2015 and is seeking to raise $300 million in equity commitments, according to a statement. The fund targets distressed industrial and office properties in select U.S. cities.
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