Almanac Raises $819 Million With Realty Securities VI
Almanac Realty Investors Closes Almanac Realty Securities VI With $819 Million Raised
New York - Almanac Realty Investors, a leading provider of growth capital to public and private real estate companies, announced today the final closing of its latest fund, Almanac Realty Securities VI, L.P. (Almanac VI), with approximately $819 million raised in equity commitments. The total amount exceeds the original fund-raising goal. Investors have also authorized an additional $150 million for potential side car investments.
The fund will seek private placements into public/private real estate companies to capitalize on the continued shift of real estate ownership to integrated entities. Almanac VI succeeds five previous funds, totaling approximately $2.3 billion, which had the same investment strategy.
"The Almanac Realty team is pleased with the closing of Fund VI, as we continue to find attractive investment opportunities for this fresh capital," said Matthew Kaplan, Managing Partner of Almanac Realty Investors LLC. "We appreciate the support of our fund investors and look forward to providing them with the attractive absolute, relative and risk-adjusted returns, in keeping with our 16-year track record."
Almanac VI and its affiliates have already made commitments to invest up to $150 million in Drawbridge Realty Trust, LLC; up to $150 million in NRES Holdings, LLC; and up to $100 million in RAIT Financial Trust (NYSE: RAS).
Drawbridge will use the funds to expand its portfolio of commercial real estate properties in the western United States, with a particular emphasis in Northern California, Southern California and Austin, Texas.
NRES will use the capital from Almanac VI to grow its portfolio of multi-family properties and expand its property management platform. It will seek predominately market-rate Class A and Class B multi-family properties located in infill markets in selected Midwest and Southern markets.
RAIT will use the capital for its expanding loan origination and investment activities, including CMBS and bridge lending.
The Almanac team is currently reviewing several other attractive opportunities to deploy capital.
About Almanac Realty Investors
Almanac Realty Investors is a leading provider of growth capital to public and private real estate companies. From the time of its founding in 1981, originally under the name Rothschild Realty, the group has raised $3.7 billion related to a wide array of real estate opportunities. Since 1996, Almanac Realty Investors' primary investment activity has consisted of making private placements into public and private real estate operating companies. To date, Almanac Realty Securities has committed/invested more than $2.7 billion into more than 30 companies. For more information, please visit our website at www.almanacrealty.com.