Farallon Real Estate Partners III, a closed-end fund managed by San Francisco–based Farallon Capital Management, has held its first close, raising $68.37 million in capital commitments.
Launched in June, the fund has received capital from 19 investors to date, according to a Form D filing with the SEC.
The opportunistic fund series focuses on CBD office, industrial, multifamily and retail assets in the United States.
The previous fund in the series, Farallon Real Estate Partners II, raised $400 million with a final close in September 2016.
