Swift Real Estate Partners raises largest investment vehicle to date
San Francisco–based Swift Real Estate Partners (SREP) has completed a final close for its SREP Fund III with more than $500 million in equity commitments, making it the firm’s largest investment vehicle to date.
The fund’s investor base consisted of U.S. pension funds, endowments, foundations, foreign investors and investment advisers. Including leverage, SPREP Fund III has $1.4 billion in buying power, which it will use to target commercial real estate on the West Coast.
Swift is currently investing on behalf of Fund III and has already invested nearly one-third of its total equity. The fund has completed $300 million in deals throughout Southern California and the Pacific Northwest and is in the process of closing two additional transactions in the San Francisco Bay Area for more than $100 million.
Swift raised $408 millio