Swift fund exceeds $400m target
Swift Real Estate Partners has held a final closing for Swift Real Estate Partners Fund II, exceeding its $400 million equity fundraising target.
Swift Fund II is pursuing value-add office investment opportunities in the western United States, focused on the San Francisco Bay Area, Southern California and the Pacific Northwest.
The fund has invested in five properties located in Bellevue, Wash.; Orange County, Calif.; and Portland, Ore. Swift Real Estate Fund II recently purchased 915 118th Ave. in Bellevue for $18.25 million. The fund also acquired three properties in Portland’s Old Town Chinatown for $12.2 million. Those properties include the Merchant Hotel, Norton House and Captain Couch.
The fund’s predecessor, Swift Real Estate Partners Fund I, held a final close of $324 million in April 2014, exceeding its equity fundraising target of $250 million.
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