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Sign in Sign up for a FREE subscriptionSilkRoad holds first close for core-plus real estate fund
SilkRoad Property Partners has completed a first close of its open-ended core-plus real estate fund with $144 million, including top-up commitments.
This is the first core-plus commingled fund for the Singapore-headquartered firm, expanding from its existing value-add product suite of SilkRoad Asia Value Partners (SAVP) and SilkRoad Asia Value Partners II (SAVP II), which closed at the end of 2020.
The core-plus fund targets logistics and industrial, multifamily, senior living, service, and convenience retail, and high-growth real estate assets in Singapore, Hong Kong, Japan and, later, China. SilkRoad believes these sectors enjoy long-term structural tailwinds that have been amplified by and insulated from the pandemic.
SilkRoad aims to grow the fund to $1 billion in gross-asset value.
“This is a high conviction strategy, based on our own operating experience in these markets and asset classes,” said Peter Wittendorp, CEO of SilkRoad Property Partner
