Commercial Real Estate Direct Staff Report
Real estate investment funds targeting debt that closed their marketing for equity at the end of last year raised a record-high $20 billion of commitments, according to Preqin.
The 26 debt funds worldwide closed their marketing upon raising an average of $770 million each. That compares to the 29 debt funds that closed in 2013 after raising an average of $551 million each, or $16 billion total.
Among the debt funds that include North American markets in their investment strategies, 12 closed last year upon raising $12 billion versus the 17 that raised $8 billion the previous year. The data are only for commingled funds with closed-end structures.
"While the availability of bank financing for real estate investments has substantially improved in recent years, there remains demand for alternative lenders," said Andrew Moylan, head of real asset products for Preqin, a...
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