PCCP raises $212 million for second fund
PCCP LLC, a Los Angeles–based investment manager, has raised $212.2 million for its PCCP First Mortgage II, according to a filing with the Securities and Exchange Commission. The core fund launched in March 2010 with a fundraising target of $500 million. It is expected to close in June 2013.
The vehicle focuses on loans associated with multi-tenant commercial assets in the United States. It offers loans of between $10 million and $50 million but does not make construction loans.
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has more than $6 billion in assets under management on behalf of institutional investors, and PCCP has invested more than $6.5 billion throughout the United States.