Fundraising - JANUARY 31, 2013

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Northwood raises more than $500 million in third close

by Andrea Waitrovich

New York City–based Northwood Investors has raised approximately $551.7 million for its opportunistic real estate fund, Northwood Real Estate Partners, in a third close according to a filing with the Securities and Exchange Common. The firm has raised a total of $2.8 billion in capital since launching the vehicle in 2007.

Northwood has invested or committed to invest approximately $1.8 billion of equity across 23 investments in the United States and Europe. The fund will continue to seek strong risk-adjusted returns by aggressively pursuing opportunities into a still recovering and de-leveraging real estate market. Recently the Employees Retirement System of Texas committed $50 million and the New Jersey Division of Investment of $150 million into the fund.

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