OCTOBER 18, 2013

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Singerman holds final close for opportunistic fund

by Reg Clodfelter

Singerman Real Estate (SRE) has held a final close for its Singerman Real Estate Opportunity Fund I. The opportunistic fund raised $118 million, according to a filing with the Securities and Exchange Commission. The fund, which launched in March 2011, did not meet its fundraising goal of $150 million.

Singerman is looking to use the equity raised to invest in distressed commercial properties and mortgages across the United States, and plans to focus on investments of $5 million to $25 million in multiple property types. The firm will consider both nonperforming loans and performing loans that could be acquired at a discount, with an eye toward either holding the loans or positioning itself to take over the collateral. The fund has a targeted gross return of 18 percent. To date, the fund h

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