Mesirow Financial Closes Value-Added Real Estate Fund
- Aug 07, 2015
Chicago—Mesirow Financial announced the final closing of Mesirow Financial Real Estate Value Fund II LP with equity commitments of more than $545 million from institutional investors across the United States and Europe. The fund is managed by Mesirow Financial’s Real Estate – Direct (MFDRE) team, which employs a value-added real estate strategy focused on the U.S. multifamily sector. The successful closing positions the team to acquire more than $1.5 billion in real estate assets and to continue a strong track record of performance established with Fund I.
Over the last five years, the team has raised just under $1 billion in equity and has invested in approximately 7,500 units. MFDRE is currently invested in more than 15 cities nationwide. Assets are made up of a mix of suburban and urban properties across a diverse spectrum of vintage years and regions. The properties do, however, share close proximity to public transit and are all located in areas with significant differentials between costs to own and costs to rent.