September 5, 2024 – CenterSquare Investment Management is pleased to announce it has held an initial close on approximately $100 million in capital commitments for its latest value-added institutional private real estate fund. The first round of capital comes from investors who have recommitted to the fund series as well as new investors, including institutions, such as public pension funds and corporate nonprofits. The fund has a target of $400 million.
“We appreciate the trust that existing and new investors have put in our investment team, and we look forward to continuing to capitalize on reset valuations and leveraging our competitive advantages in sourcing and business plan execution to deliver results for our investors,” said Jeff Reder, Managing Director of CenterSquare’s Private Equity Real Estate vertical and Portfolio Manager for the Value-Add Fund series.
Similar to its predecessor, the fund will pursue active value creation through a continued focus on middle market transactions characterized by resilient fundamentals that address challenges created by secular demand patterns. Using data-driven insights and operational expertise, the fund will seek to address the chronic undersupply of affordable housing and ensure completion of the mission critical supply and service chain by investing in rental housing and industrial assets.
Investments within those primary sectors will be further diversified by specific niche property type, with Rental Housing investments allocated across three sub-sectors: purpose-built rental communities (SFR/BTR), suburban multifamily and manufactured housing. Industrial investments will be diversified by infill, last mile warehouses, small bay service industrial and cold storage facilities.
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