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Rockwood raises $511 million for ninth fund

by Andrea Waitrovich

 

Rockwood Capital has raised approximately $511 million for its Rockwood Capital Real Estate Partners Fund IX. The value-added fund was launched in 2011 with a $750 million fundraising goal and a hard cap of $1 billion. The fund is expected to close at the end of the year.

Similar to the previous funds in the series, Rockwood’s Fund IX primarily will target hotel, office, residential and retail properties throughout the United States with steady income streams that have the potential for redevelopment. In terms of geography, the firm plans to focus on California and the Boston-to-Washington corridor along the East Coast. In addition, Rockwood may make some purchases in Arizona and Florida on behalf of the fund.

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