Contact Us

Coretrust's New $900M Fund to Target Some Bay Area Office


Coretrust Capital is considering investing capital in office buildings through its new investment fund and may have its sights set on some buildings in the Bay Area.

The Los Angeles-based real estate manager has formed Coretrust Value Fund I, which has been established with the financial backing of Austin, TX-based Hawkeye Partners. This will be a commingled fund where the manager looks to invest in up-and-coming managers. Hawkeye’s investment will be the lone outside capital invested in the fund; the principals of Coretrust will also be making an investment into the fund, which will have a total capitalization of around $900M.

The fund will target existing office buildings that have a value-added component and is seeking returns in the neighborhood of 16% to 18% net IRR. In addition to Bay Area buildings, the fund has its sights set on Los Angeles, Seattle, the Mid-Atlantic region and Texas. [TR]