Most of the vehicles will be focused on non-core strategies in the sector and the North America region, according to PERE data.
The Denmark-based fund manager reports the first close for its fourth care home vehicle.
Fifth Wall’s dominance in PERE’s inaugural Proptech 20 ranking is reminiscent of Blackstone’s in the private real estate sector’s main capital market space.
The firm’s third opportunistic vehicle was launched in November 2019 with a $1.5bn original target.
Proptech investing started largely as a balance sheet cost for managers to drive efficiencies in their real estate portfolios. Today, it is the focus of a whole new wave of capital raising, highlighted by PERE’s inaugural Proptech 20 ranking.
The New York-based private equity firm’s CIREP V marks the second higher-risk, higher-return property fund closing to be announced in a week.
The partnership marks the Canadian firm’s second logistics investment in the country since setting foot in the market in 2019.
The fund manager has hit hard-cap on its maiden European core-plus property vehicle.
The Hong Kong-based real estate firm is understood to have raised half of the target for Gaw Growth Equity Fund I, which was launched last year.
The firm acquired a five-star hotel in Sydney from Chinese developer Greenland last month for around 30% below replacement value.