Time Equities, a real estate investment, development and asset management firm headquartered in New York City, has closed its TEI Diversified Income & Opportunity Fund III. Fund III raised $70 million of capital for acquisitions throughout the United States and select Western European countries. In addition, TEI also closed approximately $30 million of outside 1031-exchange capital for new investments throughout 2017.
David Becker, senior managing director and member of the TEI executive advisory committee, stated, “Our core acquisitions strategy is to identify undervalued office, residential, retail, and industrial assets at discounted pricing that need a reposition and/or lease-up to reach stabilization. We are constantly searching for pricing disconnects in the market and often take a contrarian investment view. The ultimate objective is to increase the earnings potential, reach stabilized value and place favorable debt.”
