Finesa Real Estate Group announced this week that it had raised $70 million for their Diversified International Partners fund, which will use foreign cash to invest in commercial real estate in the top U.S. markets, Citybizlist.com reports. This is the first closing of a $200 million equity fund, Diversified International Partners (DIP). DIP is a real estate private equity fund developed for Latin American institutional and qualified high net worth investors.
Finesa retained Transwestern Investment Management (TIM) as the exclusive investment manager. Together, Finesa and Transwestern developed a diversified strategy designed to mitigate downside risk while achieving institutional investor returns. The fund will continue raising capital through the second quarter of 2013 and is anticipated to be fully subscribed.
According to Laurie Dotter, President of Transwestern, "Our partnership with Finesa has helped us reach our goal of becoming an international investment management platform." Diversified International Partners marks the first time that Colombian Pension Funds have invested in real estate in the U.S. through this type of discretionary format. "We are excited about this historic milestone for TIM, Finesa, and our institutional investors. Our goal is to continue broadening the reach of TIM's best in class expertise."
For more news and information visit Blumberg Capital Partners.
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