ACORE Capital Closes Oversubscribed $1.4 Billion Commercial Real Estate Debt Fund

ACORE Capital, LP (“ACORE”), one of the leading U.S. commercial real estate debt managers, today announced the final close of ACORE Credit Partners II (“ACP II”), which was oversubscribed with total equity commitments of approximately $1.4 billion.

ACP II is the latest and largest in ACORE’s flagship series of commercial real estate credit funds focused on originating and managing transitional debt investments in the United States. ACP II received capital commitments from a diverse group of global institutional investors including U.S. pension plans, sovereign wealth funds, endowments and foundations, insurance companies and family offices, reflecting the strong global demand for ACORE’s real estate credit strategy.

“We sincerely appreciate the strong support we received from some of the world’s largest domestic and foreign institutions, many of whom have previously invested with us,” said Warren de Haan, CEO of ACORE. “We believe the success of this fundraise – especially in a very difficult capital raising environment – is a testament to our track record, relationships and the incredible opportunity we see to deploy capital into transitional real estate over the next few years.”

Michael Romo, Senior Managing Director and Head of Global Capital Raising and Investor Relations at ACORE, stated, “ACORE was established to serve as a reliable and trusted alternative to traditional sources of real estate debt. The increased cost and significant reduction in the availability of debt capital from traditional lenders is creating very attractive investment opportunities for ACORE.”

Since its inception in May 2015, ACORE has originated approximately $40 billion in loans. As of December 31, 2023, ACORE has approximately $20 billion in assets under management.

About ACORE Capital

ACORE Capital, LP is one of the leading U.S. commercial real estate debt managers with approximately $20 billion of assets under management. With offices in New York, Los Angeles, Miami, San Francisco and Dallas, ACORE originates, acquires and manages first mortgages, B-notes, mezzanine debt and preferred equity. ACORE’s success has been fueled by its long-standing industry relationships and access to a consistent pipeline of compelling origination opportunities.

Source link

Newsletter Updates

Enter your email address below and subscribe to our newsletter