Fund Eyes $400M in Local Deals by June

BETHESDA, MD-The Meridian Group has completed the final closing on its first real estate private equity fund. The fund has taken in more than $160 million from institutional investors—a group that includes a relatively strong showing among foreign investors, Bruce Lane, executive vice president and managing director of Meridian tells GlobeSt.com. With leverage the fund expects to have purchasing power of close to $500 million. Much of that will be invested this year despite the fund’s three-year term, Lane says. “We expect we will close on about $400 million of deals within the next six months.”

Already Meridian has acquired three offices, totaling 572,000 square feet, and a loan purchase, all in Northern Virginia. The acquisitions are One Ballston Plaza in Arlington, Cameron Run in Alexandria, and Tysons Technology Center in Tysons Corner.