San Francisco-based Swift Real Estate Partners plans to finish raising capital for its $400M Swift Real Estate Partners II fund during Q2.
The fund manager has signed investor commitments of $222.5M and another $130M in expected commitments. The fund, started in September, follows Swift Real Estate Partners I, which raised $329M, according to The Registry. Investments from both funds follow a value-add strategy on the West Coast.
More than 90% of investors in the first fund are expected to invest in the second fund as well. Investors include pension funds, endowments, foundations, foreign investors and investment advisers. So far, fund acquisitions include two office buildings in Bellevue, WA, and office buildings in Portland. [TR]
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