PECO raises $32m for third retail fund
PECO Real Estate Partners has raised $32 million for PECO Real Estate Partners Strategic Investment Fund III, according to a filing with the SEC.
The value-added fund is seeking to raise $200 million to invest in underperforming power centers, malls and mixed-use properties.
The retail fund targets assets that are at least 350,000 square feet and located in major metropolitan markets.
PECO was founded in March 2015 by Phillips Edison & Co. co-founder Mike Phillips.
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