The US-based farmland investment management company closes second REIT.
The Chicago-based manager is targeting a raise of $1.5bn in initial equity for the vehicle in the first three years.
The firm exceeded the $600m target for its fifth value-add fund and raised additional capital for an investment vehicle linked to the main fund.
After almost two decades as an investor and advocate for impact investing, Jim Sorenson steps over the fence to launch his own impact investing fund in the US opportunity zone space.
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
The eighth offering in the opportunistic real estate series, which included commitments from Asian investors for the first time, raised a total of $1.3bn in equity.
The firm has reached an initial institutional close for its first open-end core product targeting the region, 30 months after the fund’s official launch.
The vehicle will primarily lend against PRS and student accommodation assets in Spain and the UK.
The previous fund in the investment manager's Asia value-add series, along with its co-investment vehicles, corralled $1bn in 2017.
Europe’s biggest institutional real estate investor has kick-started its third-party equity management business on home turf and with familiar partners.