Taconic Capital Advisors, a global institutional investment firm, has closed its third real estate fund, Taconic CRE Dislocation Onshore Fund III (TCREDF III).
The fund, which raised $500 million in capital commitments from a diverse group of existing and new investors, has the flexibility to tap into an overflow vehicle for more concentrated transactions.
One year into its investment period, TCREDF III already has committed or closed on $300 million of investments across 15 distinct transactions. Taconic expects hotel and office assets will comprise the majority of the fund’s investments.
According to Taconic, the COVID-19 pandemic accelerated pre-existing trends and distress in the commercial real estate market. A combination of aggressive pre-COVID financing and transaction assumptions, oversupply in specific markets and COVID-related societal and demographic shifts are expected to continue to apply significant pressure on the market, providing ample invest
