Torchlight debt fund raises $1.32b
Torchlight Investors has raised $1.32 billion for Torchlight Debt Opportunity Fund V, according to a filing with the SEC.
The fund, which launched in late 2014, invests in commercial real estate debt, including commercial real estate loans, CMBS, CMBS interest-only strips and CDOs.
In July 2015, the fund invested $27 million in the 248,500-square-foot Promenade at Howard Hughes Retail Center in West Los Angeles and $41 million in a 556,000-square-foot Allentown, Pa., office complex.
The fund has received commitments from the