Paladin holds $75 million first close for Latin America fund

Paladin Realty Partners has held a $75 million first close for its fourth Latin America fund, Paladin Realty Latin America Investors IV (LatAm IV). The opportunistic fund launched pre-marketing discussions with existing investors in 2012 with a $400 million fundraising goal.

The equity raised for the $75 million initial closing was from existing investors. Another $100 million of commitments have been approved to date from existing investors. The fund will officially launch its marketing campaign in March. An expected final closed date is at the end of 2013.

The vehicle will continue the firm’s 15-year investment strategy that to date has spanned more than $5 billion of assets in seven countries across Latin America.  LatAm IV will invest 60 percent of its capital in low- and middle-income for-sale housing projects and the remaining capital in opportunistic commercial real estate investments,