NOVEMBER 7, 2012

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Walton Street holds $710 million first close

by Andrea Waitrovich

Chicago-based Walton Street Capital has held a $710 million initial close for its seventh commingled real estate fund, Walton Street Real Estate Fund VII. The firm made a co-investment of $50 million in the fund. Walton Street has declined to comment on the fundraising.

The value-added and opportunistic real estate fund started fundraising at the beginning of the year and aims to reach its $2 billion fundraising goal in the next 12 months. Walton Street Real Estate Fund VII is expected to use up to 60 percent to 65 percent leverage and will be investing in the United States, particularly investment opportunities in the office and hotel sectors.

Some media reports have suggested the Walton Street Real Estate Fund VII struggled with its fundraising efforts for a first close at a time when other billion-dollar funds were not affected by economic turmoil. However, a comparison with the Securities & Exchan

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