Fundraising - DECEMBER 29, 2016

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RXR Realty raises $120m for third fund

by Andrea Waitrovich

RXR Realty has raised $120.77 million for its RXR Real Estate Value Added Fund III, according to an SEC filing.

The offering is still open. A fundraising target was not disclosed. 

Recently, RXR Realty broke ground on a $190 million mixed-use development project in downtown Yonkers, N.Y. The Larkin Plaza mixed-use development project includes 439 apartments, 35,000 square feet for retail and parking for 539 vehicles. The two towers — one 25 stories and the other 17 stories — will sit at 38 Nepperhan St. across from Van der Donck Park.

In related news, the shareholders of NorthStar Asset Management Group, NorthStar Realty Finance Corporation and Colony Capital have jointly approved a $58 billion merger that stands as the largest real estate deal of the year. The approval creates Colony Northstar, a NYSE-listed real estate

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