John Buck: Fund IV
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|The John Buck Co. announced a successful first close for JBC Fund IV, a $500M value-added real estate partnership with the same guidelines as JBC's previous institutional funds. Personally, we're looking forward to Fund IV, as this is the one with Ivan Drago.|
|JBC's Charles Beaver says the fund includes both investors from the last fund and new ones as well. (Domestic investors accounted for half of this initial close.) Prior funds have focused strictly on office properties, but Fund IV will include multifamily, retail, and mixed-use. The fund may also invest in distressed debt or development. While the main focus will remain Chicago, it'll also add or expand presence in DC and other major markets.|