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TriGate holds $340m final close for opportunity fund

by Jody Barhanovich

TriGate Capital has held a $340 million final close for TriGate Property Partners III, according to IREI’s FundTracker database, coming in just below its $350 million equity fundraising target.

The closed-end fund, which launched in August 2015, is an opportunistic vehicle that invests in office, industrial and retail properties in non-gateway U.S. markets.

The fund has begun investing its capital. A subsidiary of TriGate Property Partners III acquired McCain Plaza in North Little Rock, Ark., for $23.15 million in June. TriGate plans to renovate the space in upcoming months.

TriGate draws capital from institutional investors, including commitments of $75 million each from the $176.5 billion

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