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Thursday, December 01, 2016
Two Dallas-Area Funds Raise Hundreds of Millions for Property Buys
Two Dallas-Fort Worth real estate investors have raised hundreds of millions of dollars for new property buys.
Crow Holdings Capital — Real Estate said Monday that it has $417 million in capital commitments for its Crow Holdings Retail Fund II.
The closing of the new investment fund comes on the heels of its $295 million in capital commitments for Crow Holdings first retail fund in 2015.
"We are pleased to close on Retail Fund II, a unique opportunity to acquire small food and service-oriented centers near universities, hospitals, corporate office parks, and densely populated neighborhoods," Bob McClain, head of real estate at Crow Holdings Capital-Real Estate said in a statement.
Dallas-based Crow Holdings has invested for 18 years in properties in major U.S. markets.
The company has raised $6.7 billion for 10 real estate investment funds since 1998.
Also, Transwestern Investment Group — the same company that last week bought the 2.1 million-square-foot State Farm Insurance campus in Richardson — said Monday it has commitments of $160 million for its TSP Value and Income Fund I.
The property investment fund buys mostly in industrial and office assets in major and secondary markets.
So far the Transwestern real estate fund has purchased more than 3.6 million square feet of industrial property in Chicago, Indianapolis, Columbus, Louisville and Austin. The fund has purchased over 900,000 square feet of office properties in San Jose, Scottsdale and Atlanta.
"We are pleased to close the TSP Value and Income Fund I with such resounding success," Laurie Dotter, president of Transwestern Investment Group, said in a statement. "We appreciate the trust of our institutional investors and their confidence in the combination of our independent investment management team and our nationwide operating platform to generate attractive risk-adjusted returns."