Publications

Fundraising - JULY 2, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Torchlight raises $835m for debt fund

by Zoë Wolff

Torchlight Debt Opportunity Fund V has raised more than $835 million to date, according to a spokesperson for Torchlight Investors. The opportunistic fund is quickly approaching its $1 billion target.

The fund is expected to hold a final close at the end of 2015, having had a first close of $360 million in March and a second close of $445 million in June.

The fund focuses on opportunistic commercial real estate assets in noncore markets across the United States. The Torchlight fund has invested $27 million in the 248,500-square-foot Promenade at Howard Hughes Retail Center in West Los Angeles.

The Howard Hughes Center is a 1.6 million-square-foot mixed-use development with 920 multifamily units under construction. The property has an 18-screen Cinemark XD movie theater and a Dave & Buster’s.

“The Promenade is a well-located retail center with a strong lineup of national tenants,” said Steve Schwartz, managing director of

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?