January was an active month for new commercial real estate funds, with managers rolling out a diverse array of strategies. Notable offerings include a core fund from MetLife and a number of debt funds targeting the middle-market, including funds from JCR Capital Investment Corp. and Thorofare Capital. Also of note is a fund from Greenfield Partners that will target suburban office and industrial properties. Suburban-focused funds have been seen less since the start of the downturn.
The next edition of New Real Estate Private Equity Funds will appear in the March 3 issue.
Los Angeles-based Thorofare Capital has raised about $120 million of equity for Thorofare Asset Based Lending Fund III, with a goal of $350 million. The company originates loans of $2-25 million on transitional properties nationally, focusing on fixed-rate loans (Commercial Real Estate Direct).
Denver-based JCR Capital Investment Corp. has set a $250 million equity....