International actual property funding supervisor Heitman has introduced the shut of its third actual property debt fund with $806m (£649.3m) in capital commitments.
The Heitman Actual Property Debt Companions III (HDP III) fund had a fundraising aim of $600m.
The fund goals to supply artistic financing options to high-quality sponsors executing actual property initiatives in conventional and different property sectors.
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“Our newest fundraise demonstrates Heitman’s capacity to navigate the present market setting and our expertise in executing debt methods that utilise revolutionary funding buildings,” mentioned Jon Lindell, govt vp and portfolio supervisor for HDP III.
“As demand for versatile and dependable financing options grows, we imagine the true property debt market is well-positioned with enticing alternatives.”
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HDP III will search to capitalise on dislocations within the capital markets and can present loans to stylish actual property operators throughout the US. The fund’s strategy targets returns that fall between core-plus and value-add technique fairness applications.
Heitman mentioned that the profitable shut of the fund displays the corporate’s capacity to draw capital from traders who’re in search of earnings era and portfolio diversification via actual estate-backed debt.
HDP III was funded by a mixture of each new and present traders.
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