Home New mexico real estate Crow closes $ 2.6 billion real estate fund in commitments and co-investments

Crow closes $ 2.6 billion real estate fund in commitments and co-investments

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Crow Holdings closed its latest value-added real estate fund, Crow Holdings Realty Partners IX, with $ 2.3 billion, exceeding its initial cap of $ 2 billion, spokesman Bill Mendel said.

Crow also raised an additional $ 265 million for co-investments. The combined $ 2.6 billion in commitments is twice as large as the $ 1.3 billion raised for the previous fund.

The domestic fund invests primarily in industrial and multi-family properties. The fund also invests in specialized sectors, including manufactured homes, convenience stores and gas stations, self-storage and student housing.

Over 63% of the fund’s capital has been committed in 62 investments, primarily in the Southwest, Southeast and Mountain regions of the United States

Investors in the fund include the Florida State Board of Administration, Tallahassee, which oversees a total of $ 252.8 billion in assets, including the $ 199.6 billion Florida Retirement System; $ 54.7 billion Illinois Municipal Retirement Fund, Oak Brook, Ill. ; $ 39.2 billion from the Pension System Investment Commission of South Carolina, Colombia; $ 26.9 billion: Louisiana Teachers Retirement System, Baton Rouge; $ 23.6 billion from the Illinois State University Retirement System, Champaign; and $ 17.6 billion from the New Mexico Educational Retirement Board, Santa Fe.


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